A02.13 Purchase Description - Credit Ratings Agency Subscription - S&P dated 2025.08.08.docx

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Notice of Intent to Sole Source - Nationally Recognized Statistics Rating Organization Subscription - S&P Ratings Direct
Solicitation number
W912HQ25S0055
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This document is a Purchase Description for a sole-source contract to acquire S&P RatingsDirect on CIQ Pro subscription services for the Corps Water Infrastructure Financing Program (CWIFP). The U.S. Army Corps of Engineers intends to award a firm fixed-price contract to S&P Global for a 5-user subscription, with a base year and four option years, each lasting 12 months. The primary purpose is to provide critical financial analysis and credit ratings for municipal borrowers, enabling CWIFP to assess creditworthiness, evaluate borrower risk, and make informed financing decisions.

The contract will be awarded under a single-source justification, with electronic delivery of user accounts to Katherine Jarl at katherine.k.jarl@usace.army.mil. The subscription will provide in-depth analysis of Public Finance and Corporate entities in the Water and Sewer sector, with users accessing the platform remotely from government-assigned laptops. Key points of contact include Katherine Jarl (Sr. Program Manager) and David Kaplan (Contracting Officer) from the Humphreys Engineer Center Support Activity. The government will only consider competitive proposals if clear evidence demonstrates advantageous competition.

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Purchase Description Nationally Recognized Statistics Rating Organization S&P RatingsDirect on CIQ Pro Date: 08 AUG 2025

1. Description & Purpose: The Corps Water Infrastructure Financing Program (CWIFP) must purchase subscription services for financial analysis on the credit ratings of its prospective borrowers. CWIFP requires borrowers to submit a preliminary rating opinion letter from a Nationally Recognized Statistics Rating Organization (NRSRO), and prior to loan execution, the borrower must submit one final rating opinion letter. These ratings assess the borrower’s overall creditworthiness and indicate the level of risk to the government for entering into a loan agreement with the borrower. CWIFP’s primary applicants will be municipal borrowers.

CWIFP is requesting to purchase a subscription to S&P’s RatingsDirect on CIQ Pro (5 users), which provides in-depth analysis and commentary on the creditworthiness, financial health, and credit risk assessments of Public Finance and Corporate entities rated by S&P in the Water and Sewer sector along with sector trends and market developments.

2. Scope: Access to S&P’s analysis is critical to CWIFP’s due diligence process for evaluating borrower credit risk and negotiating security structures and loan terms to mitigate identified risks. Without access to this module, CWIFP will be negatively impacted as critical financing decisions will not be made in a timely manner, delaying loan execution while also causing increased risk to the government and taxpayers.

2. Item Description and User Quantities:

#
Description
Users
0001
S&P RatingsDirect on CIQ Pro – Base Yr
5
1001
S&P RatingsDirect on CIQ Pro – Option Yr 1
5
2001
S&P RatingsDirect on CIQ Pro – Option Yr 2
5
3001
S&P RatingsDirect on CIQ Pro – Option Yr 3
5
4001
S&P RatingsDirect on CIQ Pro – Option Yr 4
5

4. Delivery:

a. All items shall be delivered in electronic form and delivered to the following email address: katherine.k.jarl@usace.army.mil

No shipping costs are required for delivery.

b. The end user Point of Contact for these user accounts is:

Attn: Katherine Jarl Work Cell: (703) 342-9461

5. Place of Performance: Users will be designated based on number of purchased user accounts and will access remotely from government assigned laptops.

6. Period of Performance: The Period of Performances is listed below.

Base year: 12 months from date of award of the contract.

Option year 1: 12 months from Base year end date.

Option year 2: 12 months from Option year 1 end date.

Option year 3: 12 months from Option year 2 end date.

Option year 4: 12 months from Option year 3 end date.

7. Government POC’s: Questions about this order shall be directed to the Government Points of Contact listed below:

USACE POCs:

· Katherine Jarl, Corps Water Infrastructure Financing Program, Sr. Program Manager, (703) 342-9461, katherine.k.jarl@usace.army.mil

· David Kaplan, Humphreys Engineer Center Support Activity, Contracting Officer, (703) 428-8487, david.a.kaplan@usace.army.mil

File details come from the government source that posted it. Updated .