In recent years, Standard&Poor's Ratings Services has observed an increase in the demand for its credit estimates. Credit estimates differ significantly from credit ratings, including confidential ratings and private ratings, and are requested by a third party other than the company or issuer of the obligation. Credit estimates are intended to provide solely to the requesting party an indication of our opinion regarding creditworthiness of an unrated company based on an abbreviated analysis. (Watch the related CreditMatters TV segment titled, "How Credit Estimates Differ From Ratings," dated April 11, 2011.) With the aim of clarifying how credit estimates differ from credit ratings, we address a number of questions frequently asked by investors on this topic. A credit estimate