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ntended for and must not be distributed to any person in Australia other than a wholesale client (as defined in Chapter 7 of the Corporations Act). STANDARD & POOR'S. S&P and RATINGSDIRECT are registered trademarks of Standard & Pools Financial Services LLC. To manage your Standard & Poor's Ratings Services subscripti
atings.com/Economichtsights. U.S. Chief Economist Standard & Poor's Ratings Services If you have any questions, please contact me or my colleague Satyam Panday, U.S. Economist, at 212-438-6099. Sincerely, Beth Ann Bovino U.S. Chief Economist Standard & Poor's Ratings Services 212-438-1652 Visit SPRati
ntended for and must not be distributed to any person in Australia other than a wholesale client (as defined in Chapter 7 of the Corporations Act). STANDARD & POOR'S. S&P and RATINGSDIRECT are registered trademarks of Standard & Poor's Financial Services LLC. To manage your Standard & Poor's Ratings Services subscript
t and view additional economic research, please visit .SPRatings.com/EconomicInsights. If you have any questions, please contact me or my colleague Satyam Panday, U.S. Economist, at 212-438-6099. Sincerely, Beth Ann Bovino U.S. Chief Economist Standard & Poor's Ratings Services 212-438-1652 Visit SPRati
ntended for and must not be distributed to any person in Australia other than a wholesale client (as defined in Chapter 7 of the Corporations Act). STANDARD & POOR'S. S&P and RATINGSDIRECT are registered trademarks of Standard & Poor's Financial Services LLC. To manage your Standard & Poor's Ratings Services subscript
and view additional economic research, please visit www.SPRatings.com/EconomicInsights. If you have any questions, please contact me or my colleague Satyam Panday, U.S. Economist, at 212-438-6099. Sincerely, Beth Ann Bovino U.S. Chief Economist Standard & Poor's Ratings Services 212-438-1652 EFTA00357376
Entities connected to both STANDARD & POOR'S. S&P and Satyam Panday