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SPGI Is a Data Provider and Market Intelligence Provider
S&P Global is a provider of credit ratings on corporations and sovereign governments. They operate in an oligopoly in this market, which provides them with one of the most powerful moats in the world. The company has outperformed the market over the past 10 years as shares have averaged 22% annual growthover the past decade versus just 12% for the S&P 500. If we see poor economic conditions in 2023, then the cyclicality of SPGI's business will likely come to haunt them like it did during the great financial crisis.