What does S&P indicate (in financial/commercial circles)?

S&P refers to Standard & Poor's, a leading financial services company and division of S&P Global that provides credit ratings, financial research, and analysis. It is one of the 'Big Three' credit rating agencies globally, alongside Moody's and Fitch. S&P is best known for the S&P 500 index, which tracks 500 large-cap U.S. stocks and is considered one of the best representations of the U.S. stock market. The company also provides credit ratings for governments, corporations, and financial instruments worldwide. In financial and commercial circles, 'S&P' almost always refers to Standard & Poor's ratings and indices.