1. Annual Report makes a similar point, stating: "Financial Services segment continued to experience double-digit growth in revenue and operating profit in 2006, increasing 14.4% and 18.0%, respectively, over 2005 results. The increases in revenue and operating profit were due to the performance of structured finance and corporate (industrial and financial services) and government ratings;S&P does not separately report structuredfinance revenues, but S&P's,2006
2. The first item mentioned in explaining the increases is that "[i]n the U.S., strong growth was experienced in the issuance of commercial mortgage-backed securities (CMBS) and collateralized debt obligations (CDOs);Annual Report