Please complete your profile before submitting your comments. (6), Solomon Islands Prior to joining Moodys, Mr. Fauber served in several roles at Citigroup and its investment banking subsidiary Salomon Smith Barney from 1999 to 2005. (1), Oklahoma Above all, we are inspired to help uncover meaning amid uncertainty so individuals and organizations can thrive, which drives our ambition to be the leading provider of global integrated perspectives on risk. Vice President, TreasurerMr. (9), Slovakia (1), Kansas (9), Poland (MSFJ) is a wholly-owned credit rating agency subsidiary of MJKK. . Weekly Market Outlook Markets, Bankers and Analysts Differ on 2021's . (1271), Europe, Middle East & Africa We employed a forward intensity approach to predict the multi-period defaults of Chinese-listed firms during the period 2001-2019 on a monthly basis. (1), New York All data is derived from the Moody'sInvestors Serviceproprietary database of issuer, default, and recovery information. Moodys continues to garner recognition for its diversity, equity and inclusion achievements, including from the Human Rights Campaign Foundation, Bloomberg Gender Equality Index and Working Mother. (2), Bahamas Loss given default (LGD) measures the expected loss, net of any recoveries, expressed as a percentage and will be unique to the industry or segment. (1), Hawaii . (1), Montana (6), Bosnia and Herzegovina (2), Algeria (6), France MOODYS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. Credit Strategy and Standards Index of Reference Documents. Chief People OfficerMaral Kazanjian is the Chief People Officer of Moodys Corporation she is also a member of the Executive Leadership Team. 19 Dec 2022. (2), Kyrgyzstan (8), Sovereign & Supranational Using Moody's Analytics probability of default models, we see credit deterioration across firms of all sizes and industries. This translated into strong financial performance and returns for our stockholders. By telephone from outside the United States: Modern Slavery and Human Trafficking Statement. (3), Germany In this role, Mr. Goggins is primarily responsible for providing legal advice to senior management and managing the provision of legal services by a team of inhouse lawyers and outside counsel. (2021) note that one third of all U.S. corporate bonds have a fixed call feature, . (2), Eswatini He has served as the Chief Executive Officer of Qualtrics International Inc. (Qualtrics), the leading experience management software provider, since July 2020 and prior to that as President from January 2019 to July 2020. Dial the AT&T Direct Dial Access code for. 0800-666-3506. (10), Hungary "The recession induced by the coronavirus pandemic led to a rapid increase in defaults in 2020", says Moody's Vice President Sharon Ou. She moved to the Commercial department in 2011, to focus on Structured Finance business development, including secondments to both the Hong Kong and New York offices.She also spent time in the Product Management Group with global responsibility for product related requests and initiatives linked to Structured Finance and investor requested products.Prior to joining Moody's, she was a Director at Lehman Brothers, specializing in Structured Finance origination and structuring. (1), Indiana Prior to that role, Ms. Sullivan supported the Global Wealth &Investment Management business from 2015 to 2017 in a variety of positions including Controller. Financial specialist with 5+ years of experience across quantitative research, macroeconomic analysis, and data science. Ms. Alsop holds a B.A. As in most recovery periods, defaults fell relative to the prior year, with the S&P Global Ratings global speculative-grade corporate default rate falling below 2% for only the eighth time in the past 41 . 001-888-779-5833, So Paulo 0800-891-2518, or Buenos Aires (2), Mauritius (1), Delaware Head of Investor RelationsShivani Kak heads the Investor Relations Team and is responsible for managing effective communications with the analytical community, as well as existing and potential shareholders. Moody's Investors Service Risk Quantification Evaluate, manage, and mitigate climate risks and their impacts through scenario analysis, quantitative modelling and stress testing. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history. Mr. Platt holds an M.B.A. from The University of Chicago, a B.A. (1), Washington (58), Debt Sustainability (2), New Caledonia Dial the AT&T Direct Dial Access code for, We brought you to this page based on your search query. This page provides a central resource for Moodys research on default risks, impairment and loss rates, ratingtransitions and performance, and liquidity studies. (527), Asia-Pacific Economic Cooperation (APEC) (6), Turkmenistan This, combined with Moodys experienced leadership and its talented and diverse workforce, will enable continued generation of enduring value for stockholders and other important stakeholders. Platt is SVP & Chief Strategy Officer for Moodys Corporation, with responsibility for Global Corporate Development and Corporate Affairs, which encompasses Global Communications and Branding, Corporate Social Responsibility and Government, Public & Regulatory Affairs. Previously, Mr. West served as Managing DirectorHead of Global Structured Finance from February 2014 to May 2016 and Managing DirectorHead of Global Corporate Finance from January 2010 to January 2014. Ms. Elliott has more than 25 years in senior-level corporate communications roles. The markets looked to Moodys for our expertise and insights in navigating evolving credit conditions, and many organizations sought our help in making better, more informed decisions in financing, screening, lending, insuring and investing. Prior to joining the Company, Ms. Sullivan served in several roles at Bank of America from 2011 to 2018, where her last position held was Managing Director and Global Banking Controller. reference to Moody's idealized loss and default tables (see Appendix B). MOODYS ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. #MobileRightColumnContainerE606C799DE50411EA1A0827D375551BB .subheading, #RightColumnContainerE606C799DE50411EA1A0827D375551BB .subheading {display: none;}. (270), Uruguay He has previously served on the boards of The Royal Bank of Scotland Group plc and National Westminster Bank, Plc, each an RBS affiliate, from October 2009 to October 2013. (5), Growth: Macroeconomic outlook & insights on fiscal and monetary policies US Credit Compass indicates further deterioration as lending standards tighten and sentiment worsens, The performance of Moody's corporate debt ratings Q2 2022, This publication provides updated measures of the, Corporate defaults more than double in August from the prior month. 6 These observations became available in the late fall of 2003, after the model was finalized. AND/OR ITS AFFILIATES. Senior Vice President,Risk Management & Chief Audit ExecutiveScott Kenney is Senior Vice President Risk Management and Chief Audit Executive of Moodys Corporation. (5), Morocco Moody's Investors Service's 34th annual default study provides statistics on defaults, losses and rating transitions for corporate bond, loan and deposit issuers over the past year. (18), Colombia Our commitment to environmental sustainability includes accelerating our net zero emissions target by ten years, from 2050 to 2040, consistently engaging in the ongoing global dialogue around ESG and climate disclosures, and executing on our public decarbonization plan.We are proud that our efforts led to recognition as a 2021 Global Compact LEAD company and an A List score from CDP, recognizing Moodys as one of a small number of high-performing companies that are leading actions to cut emissions, mitigate climate risks and develop the low-carbon economy. As I observed last year, our customers seek solutions to help them identify, measure and manage a wider range of interconnected risks. 23 Dec 2022. (1), California (2), San Marino (1), New Mexico (2), Antigua and Barbuda (7), United Arab Emirates (3), The Credit Cycle Turns MOODYS PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODYS ANALYTICS, INC. Over the first half of 2021, Moody's repurchased 1.6 million shares at a total cost of $503 million, or an average cost of $318.03 per share, and issued net 0.7 million shares as part of its employee stock-based compensation programs. KMV (currently part of Moody's Analytics) has developed hybrid approaches (Sobehart, J. R., et all, 2000), based on the market calibration of the key factor in the probability of default - Distance to Default7 , which is an index of both a single public company and the market as a whole or its segment. (1), South Dakota He is admitted to the New York State bar. (7), Economic and Monetary Community of Central Africa (CEMAC) Chairman of the Board of DirectorsMoodys CorporationDirector since April 2003 Raymond W. McDaniel, Jr., age 64, has been the Chairman of the Board since January 2021. (2), Vanuatu (2), Liechtenstein He served as Chief Executive Officer of Moodys Investors Service from October 2007 to December 2020. CLICK HERE Contact & Support Nick Kraemer Head of Ratings Performance Analytics P. + 1 (212) 438-1698 E. nick.kraemer@spglobal.com He is the chairman of the Board of Trustees of The Valley Health System and a member of the Board of Directors of the Quest Autism Foundation. our global press information hotlines: New York +1-212-553-0376, Mr. Kenney holds a BS in Accounting from the University of Scranton and is a Certified Public Accountant licensed in New York. Granularity: Contains granular information from our sister company, Moody'sInvestors Service, includingcomplete rating history at the instrument level, rating outlook and watch-list data, and credit enhancement/backing data, indicating external support. (191), Rating Transition Studies He held the additional titles of President from November 2001 to August 2007 and December 2008 to November 2010 and Chairman from October 2007 until June 2015. Ms. Alsop has more than 20 years of experience helping drive positive change and business results at Moodys. Thank you for your interest in sharing Moody's Research. Source: S&P Global Market Intelligence, as of July 30, 2021. With the inclusion of sector data and default rates and the inclusion of market data, the default probabilities are more accurate and move more responsively to reflect the change in default rates as conditions change. (2), Luxembourg To address these risks, they need to go beyond data into context and beyond context into meaning. (2), Zambia He was a member of the Texas A&M Foundation Board of Trustees (2014-2021). (826), Sub-Sovereign (2), Somalia From September 2009 to October 2012, Mr. Serafin served as General Manager at Tellme Networks, Inc., a telephone-based applications provider, following its acquisition by Microsoft Corporation. from The University of California, Berkeley in Political Economies of Industrialized Societies and earned the Chartered Financial Analyst designation. As such, these ratings incorporate Moody's assessment of the default probability and loss severity of these issuers and issues. The table shows how the Portfolio's average annual total returns for one year, five years and since inception compare to those of selected market indices. His substantive expertise extends to enterprise collaboration services, artificial intelligence and user experience. (53), U.S. Public Finance (1), Michigan (2), Libya MOODY'S CORPORATION REPORTS RESULTS FOR FOURTH QUARTER AND FULL YEAR 2021; SETS FULL YEAR 2022 AND MEDIUM-TERM OUTLOOKS Moody's Corporation 4Q 2021 revenue of $1.5 billion, up 19% from 4Q 2020; FY 2021 revenue of $6.2 billion, up 16% from FY 2020 4Q 2021 diluted EPS of $2.28, up 37% from 4Q 2020 and adjusted diluted EPS. (2), Eritrea (9), Iran Prior to this appointment, Mr. Tulenko was Executive Director of Enterprise Risk Solutions from 2013 to October 2019 and Executive Director of Sales, Customer Service and Marketing from 2008 to 2013. (1), Texas (6), South Korea He and his wife have two children. (8), United States The probability of default (PD) is the probability of a borrower or debtor defaulting on loan repayments. Default Trends and Rating Transitions | Moody's Default Trends and Rating Transitions This page provides a central resource for Moody's research on default risks, impairment and loss rates, rating transitions and performance, and liquidity studies. (2), Guyana He also has a strong background in information systems and cyber-related matters. The Oil & Gas sector suffered from a very sharp drop in oil prices in 2020 as the pandemic severely curbed economic activity and energy demand, and the lack of an agreement on supply cuts early in 2020. If this isn't what you are looking for, you can. (2), Bahamas - Off Shore (6), Mercosur Prior to this role, she managed the US Structured Finance Relationship Management team within the Commercial Group.She joined Moody's in 2008 as a European RMBS analyst in the Structured Finance team. (6), Denmark (2), Kenya Ms Hill currently serves as a director of NetApp, Inc. (September 2013-present) and Celanese Corporation (July 2015-present).Ms Hill has significant experience in business management and leading engineering and operations organizations. We invested approximately $150 million organically in technology, data, and product development in addition to pursuing acquisitions that enhance our capabilities and will accelerate our speed to market in areas ranging from environmental, social and governance (ESG) and climate risk to financial crime, commercial real estate (CRE) and supply chain risk.In 2021, we rated over $6 trillion of issuance and served more than 1,100 issuers who accessed the markets for the first time. Extends to enterprise collaboration services, artificial Intelligence and user experience analysis, and recovery information of California, in., our customers seek solutions to help them identify, measure and a. And Human Trafficking Statement is n't what you are looking for, you can Modern and... 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