Podcasts. Default Report The performance of Moody's structured finance ratings - Q2 2021 - additional … 10 May 2021 | Moody's Investors Service Ten Moody’s-rated companies defaulted in April, the highest number since December 2020, but the 12-month global corporate speculative-grade default rate fell to 5.6% from 6.3% in March because a large batch of early 2020 defaults have exited the trailing-year period. In Europe, we predict the default rate to rise from the March level of 0.9% to 1.5% at the end of 2019 before climbing to 1.8% by March 2020. The 2020 global corporate default tally has reached 57 this week after six defaults, three of which were U.S.-based retailers including J.C. Penney Co. Inc., The Neiman Marcus Group LLC, and Mister Car Wash Holdings Inc. These levels remain very strong relative to similarly rated peers, although we expect some weakening in 2020-21 due to higher debt levels and MOODY'S ANALYTICS . This report elaborates on our physical climate risk scores, part of our sovereign ESG scores, providing further analysis about the materiality of … A total of 17 corporate families defaulted during … The recent increase in debt levels among advanced industrial countries due to the global financial crisis is concerning to sovereign investors and observers. This page provides a centralized source for Moody’s research related to sovereign defaults. Sovereigns-Global: Physical climate risk weighs on sovereigns; adaptation efforts yet to be widely tested. Contacts Philip Cope +44.20.7772.5229 AVP-Analyst philip.cope@moodys.com Matthew Brown +44.20.7772.1043 Associate Analyst matthew.brown@moodys.com Neil Griffiths-Lambeth +44.20.7772.5543 The Company also exceeded its 15% reduction target in Scope 3 GHG emissions by 2025 from fuel and energy-related activities, business travel and employee commuting. Driven by technology, sustainability and changing consumer preferences, this transformation will … Standard & Poor's Rating Affirmation. High-Yield Bond Default Rate: % Figure 3: For September 2020, U.S. High -Yield Bond Default Rate of 8.6% Exceeded the U.S. High -Yield Loan Default Rate of 7.1% sources: Moodys' Monthly Default Report, Moodys' Capital Markets 175 325 475 625 775 925 1,075 1,225 1,375 1,525 1,675 SCB (HK) Ltd. SCB Malaysia Berhard. Or just email us at. Foreign currency translation favorably impacted Moody… Moody's. Moody’s is committed to helping market participants advance strategic resilience, responsible capitalism, and the greening of the economy. 08 Jun 2020 New York, June 08, 2020 -- Moody's Investors Service ("Moody's") has assigned a Aa2 rating to approximately $327 million of Maryland Transportation Authority's ("MDTA" or "the authority") Transportation Facilities Projects Revenue Bonds, Series 2020 (Tax-Exempt Bonds). learn more. This affected more than $13 billion in leveraged loans and $4 billion in bonds. A digital transformation like no other. Default Recovery Database (DRD) ... Descriptive frameworks underlying Moody's ratings. Moody’s publishes 2020 Stakeholder Sustainability Report. Climate Solutions. Chart X1: Health Decline Under Baseline and Adverse Scenarios . 10 August 2020. Contact Us. Read about our progress in our 2020 Stakeholder Sustainability Report and access our earlier sustainability reports. Purple Master Credit Cards 2020. Media Relations. (1) I use the local currency sovereign rating (from Moody's: www.moodys.com) and estimate the default spread for that rating (based upon traded country bonds) over a default free government bond rate. Structured Finance: May 2021 structured rating … Moody's Investors Service provides investors with a comprehensive view of global debt markets through credit ratings and research. Register Now. MOODY'S ANALYTICS . The credit profile of African Development Bank (AfDB) is supported by the bank's robust capital buffers and superior risk management, which mitigate risks arising from the low credit quality of the bank’s loan portfolio. The Virgin Islands BAN default "reflected a long-running series of credit issues that predated the virus, though the island's economy was not helped by the collapse in tourism in 2020," Moody… Indeed, by the January 2020 report Moody’s forecast had been revised down to 3.42% at November 2020 and the December 2020 rate was revised a little lower still to 3.29%. Concurrently, Moody's has upgraded to B1 from B3 the instrument rating on the first lien backed senior secured facilities held by Pi Lux Finco S.a r.l., Paysafe … Global presence map shows all Moody’s office locations, not exclusively MIS locations. 2020 2022 2024 2026 . Russia's biggest bank embarks on a full pivot to digital. The link to the Moody’s Investors Service March 9, 2020 published report … Predicted health index Millennial cohort . Default Trends – Global: February 2021 Default Report by Moody’s Investors Service (MIS), the realized trailing 12-month default rate for global speculative grade reached 6.6% at the end of 2020. MESG@moodys.com. Moody's Corporation 2Q 2021 revenue of $1.6 billion, up 8% from 2Q 2020. Sustainability. 7 August 2019 PDF. Moody's Corporation. ESG Investors. In this episode, our experts examine the origins of Allowance for Loan and Lease Losses (ALLL), and the future impact of the Current Expected Credit Loss (CECL) accounting standard. Concurrently, Moody's has affirmed the Aa2 Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name.Moody's Investors Service provides international financial research on bonds issued by commercial and government entities. Moody's - credit ratings, research, tools and analysis for the global capital markets. Leveraged loan issuance totaled $435.5 billion through the end of October, compared to $573.1 billion a year ago in the same year-to-date period, S&P’s report stated. Moody’s Investors Service has forecast a 3.7% speculative-grade corporate default rate by October 2020. Citigroup C and its rated subsidiaries’ long-term debt, deposits and counterparty risk ratings have been affirmed by Moody’s Investors Service. SCB Korea Ltd. SCB (Thai) Public Co Ltd. SCB (Singapore) Ltd. APAC corporates experienced a very steep credit quality decline following the global outbreak of the COVID-19 pandemic. How we work. Number of offices reflects the total number of countries Moody’s Corporation has presence in. 97 ~-----~ 91 . Moody's Corporation 1Q 2021 revenue of $1.6 billion, up 24% from 1Q 2020 Moody's Investors Service revenue of $1.0 billion, up 30%; Moody’s Analytics revenue of $564 million, up 14%, excluding acquisitions up 10% 1Q 2021 diluted EPS of $3.90, up 52% from 1Q 2020; adjusted diluted EPS of $4.06, up. Moody's commitment and expertise contributes to transparent and integrated financial markets. Nov 24, 2020 8:35AM EST. 13 Aug 2020: Sector In-Depth The causes of sovereign defaults: 19 May 2020: Sector In-Depth Sovereign defaults, deposit freezes and private-sector external debt moratoriums: 13 May 2020: Data Report Sovereign default and recovery rates, 1983-2019: 13 May 2020: Data Report Sovereign Default and Recovery Rates, 1983-2019 - Excel Data 22 April 2020 Download file entitled Standard & Poor's Rating Affirmation as pdf. Overview. Moody's will hold a conference call to discuss first quarter 2020 results as well as its 2020 outlook on April 30, 2020, at 11:30 a.m. Eastern Time ("ET"). Moody's said the city's access to external borrowing was constrained, hence its failure to secure new borrowing so far in 2021. ... according to a recent Moody’s report. ESG. Assumptions underpinning guidance that was issued on October 29, 2020. M: +65 9126 2967. Moody's Org ID: 731400993. High-Yield Loan Default Rate: % U.S. Shellpoint Mortgage Servicing - Moody's Servicing Quality Report 2020 April 19, 2021 The upgrade of Shellpoint's SQ assessments is mainly driven by improvement in the company's financial stability component as well as above average performance for default metrics. Moody's Corporation 2Q 2021 revenue of $1.6 billion, up 8% from 2Q 2020. The default rate for corporations in Latin America and the Caribbean climbed to 6.5% in February 2021 from 0.9% a year ago. We do not comment on credit ratings or potential rating changes, and no opinion or analysis you hear during this presentationcan be assumedto reflect those of the ratingsagency. High yield default rate rising to ~8%2 Macro Assumptions Underpinning Our Outlook 1. Latest Reports DBRS Ratings. Earnings Release: Wednesday, February 12, 2020 Teleconference: 11:30 a.m. Eastern Time on Wednesday, February 12, 2020 Moody's Corporation (NYSE: MCO) will release its fourth quarter and full year 2019 results before the start of NYSE trading on Wednesday, February 12, 2020. It may not be copied, transferred or disseminated unless authorized under a contract with Moody's or otherwise authorized in writing by Moody's. Moodys - Moody's Corporation Reports Results for First Quarter 2021. ‍ *Sources for "Moody’s Investors Service by the Numbers": ‍MIS data as of Year 2020; MIS publications figures cover 1 January 2020 to 31 December 2020. MOODY’S 2019 ANNUAL REPORT 3 Second, MIS deepened its presence in Latin America with the launch of Moody’s Local, a new brand and approach to domestic credit ratings and research for financial institutions, corporate entities, local governments and other sectors. Contact Us. At the sector level, Retail is now expected to see the most defaults while Energy enters the top 5. DefaultsKatrina Ell US HY default rate: Moody's Investors Service’s Default Report has the U.S.' trailing 12-month high-yield default rate dipping from January 2020’s actual 4.2% to a baseline estimate of 3.8% for January 2021. O: +65 6511 4488. Gender & Finance. Moody's – Distressed corporate ratings list hit its record worst in 2020; defaults to keep rising through Q1 2021 “We are proud to have exceeded our environmental sustainability targets, and to have fully implemented climate-related risk awareness and opportunities into Moody’s … What we do. credit ratings issued by moody's investors service, inc. and/or its credit ratings affiliates are moody’s current opinions of the relative future credit risk of entities, credit commitments, or debt or debt-like securities, and materials, products, services and information published by moody’s (collectively, “publications”) may include such 2014 2016 2018 . However, the baseline trailing 12month - default rate is projected to fall below 4% by the end of 2021. ... Fitch Solutions, Moody's Corporation. 22 JUN 2021. Share A-A + 100%. The entry of several African sovereigns and large corporations into international debt capital markets prompted this centralized source for Moody's research. Moody's Corporation 7 World Trade Center at 250 Greenwich Street New York, NY 10007 +1.212.553.0300 ir@moodys.com Ray McDaniel - President & … Moody's Corporation 7 World Trade Center at 250 Greenwich Street New York, NY 10007 +1.212.553.0300 ir@moodys.com Published. Concurrently, Moody's has downgraded the backed senior unsecured ratings of Dufry One B.V. to B1 from Ba3. Throughout 2020, MIS played a vital role in the continued efficient functioning of global debt capital markets, rating more than $5.5 trillion in global debt issuance. We pivoted to virtual engagement, resulting in greater customer interaction that ultimately translated to a 300% increase in attendance at Moody’s events in 2020. ... NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. The North American corporates experienced a very steep credit quality decline in March 2020, following the global outbreak of COVID-19. Awards. Moody's Corporation reported revenue of $1.4 billion for the three months ended September 30, 2020, up 9% from the prior-year period. fourth quarter of 2020, Moody’s Investors Service says in its latest corporate default monitor. DBRS revises Deutsche Bank's outlook to stable (July 1, 2021) DBRS on Q1 2021 Earnings results (April 29, 2021) DBRS on Q4 2020 Earnings results (February 5, 2021) A credit rating is an assessment of the solvency or credit-worthiness of debitors and/or bond-issuers according to established credit review procedures. In early March, it had forecasted a 6% one-year default rate, but by mid-April that forecast jumped to more than 17% — on par with the peak of the retail upheaval in 2018. Moody's returned $105 million to its shareholders via dividend payments during the fourth quarter of 2020. Foreign currency translation favorably impacted Moody's … Special Report / Fri 18 Sep, 2020. Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Working with Moody’s Investors Service, a study has been published each year. "The four-notch downgrade of Tshwane's long-term global-scale rating reflects the sharp deterioration in the city's liquidity, pointing to a significant risk of default on its financial obligations," the report said. Moody's said the baseline default forecast assumes a sharp downturn in the global economy during the first half of the year, followed by a recovery later in the year and into 2021. 19 Jun 2020 London, 19 June 2020 -- Moody's Investors Service, (Moody's) has today downgraded Dufry AG's (Dufry or the company) Corporate Family Rating (CFR) to B1 from Ba3 and its Probability of Default Rating (PDR) to B1-PD from Ba3-PD. Annual Report 2020. North American corporates experienced a very steep credit quality decline following the global outbreak of the COVID-19 pandemic. See Default Trends ±Global: May 2020 Default Report, available on moodys.com after registration. The number of sovereign defaults climbed to a high of seven, while downgrades rose to their highest tally since 2011 and outnumbered upgrades by a ratio of 10 to 1. With activities in Peru, Panama and Bolivia, Moody’s Local Jennifer.Tennant@moodys.com Corporate Default and Recovery Rates, 1920-2009 Summary This report comprises Moody's twenty-third annual default study in which we update statistics on the default, loss, and rating transition experience of corporate bond and loan issuers for 2009, as well as for the historical period since 1920. Amid increasingly extreme weather events and growing awareness of the severity of climate change, investors, banks, insurers and companies must identify, quantify and manage their climate-related risks. For countries without a Moody's rating but with an S&P rating, I use the Moody's equivalent of the S&P rating. Moody's Corporation reported revenue of $1.6 billion for the three months ended June 30, 2021, up 8% from the prior-year period. Rating Action: Moody's assigns Aa3 to NYC TFA Building Aid Revenue Bonds Fiscal 2022 Series S-1; outlook positive 09 Jul 2021 New York, July 09, 2021 -- Moody's Investors Service has assigned a Aa3 rating to the New York City Global high yield default rate by the end of 2020. 2 4 November 2020 Asian Development Bank – Aaa stable: Regular update This document has been prepared for the use of Leika Ramirez and is protected by law. The rating definitions of 'CCC' ("substantial credit risk: default is a real possibility") and 'CC' ("very high levels of credit risk: default of some kind appears probable") and historical experience imply a likelihood of further defaults in 2020. 2 16 July 2020 Vermont Municipal Bond Bank: Update to Credit Analysis This document has been prepared for the use of Michael Gaughan and is protected by law. Rating Report / Mon 16 Nov, 2020. In early March, it had forecasted a 6% one-year default rate, but by mid-April that forecast jumped to more than 17% — on par with the peak of the retail upheaval in 2018. Investor Relations. U.S. Coronavirus blog. A copy of the release will be posted on Moody's Investor Relations website, ir.moodys.com . Concurrently, Moody's has affirmed the Aa2 Moody’s publishes 2020 Stakeholder Sustainability Report. There have been 15 defaults from the consumer/services sector (which includes both consumer and retail and restaurants sectors) so far in 2020--14 of which were based in … Diversity, Equity & Inclusion. These levels remain very strong relative to similarly rated peers, although we expect some weakening in 2020-21 due to higher debt levels and COVID-19 has become, and will likely continue to be, a major driver of credit risk. 25 Mar 2020 London, 25 March 2020 -- Moody's Investors Service (Moody's) has today downgraded Dufry AG's (Dufry or the company) Corporate Family Rating (CFR) to Ba3 from Ba2 and its Probability of Default Rating (PDR) to Ba3-PD from Ba2-PD. Moody’s forecasts a 3.6% trailing 12-month high-yield non-financial corporate default rate for Asia Pacific at the end of 2021, down from 7.3% in 2020, under its baseline scenario of economic recovery in Asia and continued fiscal and monetary policy support, the firm said in a recently published report. ... NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. Please see the ratings section at the end of this report for more information. In this paper, we examine the impact of the coronavirus and the concurrent shock in oil prices on middle-market and large firms to identify which sectors have the greatest credit deterioration. Sector In-Depth. Events. Join our hosts and Moody’s Analytics Senior Director Masha Muzyka for a discussion on accounting standards from a historical perspective. 08 Jun 2020 New York, June 08, 2020 -- Moody's Investors Service ("Moody's") has assigned a Aa2 rating to approximately $327 million of Maryland Transportation Authority's ("MDTA" or "the authority") Transportation Facilities Projects Revenue Bonds, Series 2020 (Tax-Exempt Bonds). This research highlights current trends and gives an overview of the performance of the 8,583 projects and covered the period from 1983–2018. Moody's Investors Service revenue of $980 million, up 4%; Moody’s … Global Sovereign Default Study. Effective Validation Webinar – May 2020 2 Moody's Analytics operates independently of the credit ratings activities of Moody's Investors Service. value of CAD46.8 billion at March 31, 2021, covering 83% of total expenses and 43% of Moody’s-adjusted net debt. Learn how Moody's ratings and analysis speak to the relative credit risk of debt instruments and securities across industries and asset classes around the globe. We pivoted to virtual engagement, resulting in greater customer interaction that ultimately translated to a 300% increase in attendance at Moody’s … Moody's Corporation 7 World Trade Center at 250 Greenwich Street New York, NY 10007 +1.212.553.0300 ir@moodys.com 28 September 2020 RATING General Obligation (or GO ... 1 The rating referenced in this report is the issuer’s General Obligation (GO) rating or its highest public rating that is GO-related. Concurrently, Moody's has downgraded to Ba3 from Ba2 the backed senior unsecured Insights. Overview. Moody's Corporation (NYSE:MCO) Q2 2020 Earnings Conference Call July 30, 2020 11:30 AM ET. * The technique of replacing 2020Q2 MEVs with their values of 2020Q1 is also applied in a separate study of default risk reporting and projection by Moody’s Investors Service. May 5, 2021. Sr. Director – Sales Manager. Get Full Access. composed of two different scenarios, baseline and adverse. Moody’s intends to reach net-zero emissions by 2050, consistent with its commitment to the United Nations … By the end of January 2021, the median EDF™ (Expected Default Frequency) value of APAC corporate firms was 0.64%, retreating from a high of 0.97%at theend of March 2020. yield spread may approximate 575 bp by year-end 2020. Moody's Rating 2020. The European forecast reflects our view that the region's defaults will remain low by historical standards but that they will … Total rated outstanding debt as at 10 January 2021. Moody's ESG Solutions. Sources: “September 2020 Default Report” and “Global Macro Outlook 2020-2021 (August 2020 Update)” from Moody’s Investors Service. Infographics. The spread of COVID-19 and the collapse of oil prices created challenging credit conditions for sovereigns rated by S&P Global Ratings in 2020. Moody's … Moody’s Investors Service forecasts in a new report that the trailing 12-month default rate for Asia-. value of CAD46.8 billion at March 31, 2021, covering 83% of total expenses and 43% of Moody’s-adjusted net debt. 24 January 2020 RATING General Obligation (or GO ... 1 The rating referenced in this report is the issuer’s General Obligation (GO) rating or its highest public rating that is GO-related. The baseline represents how health shocks have It may not be copied, transferred or disseminated unless authorized under a contract with Moody's or otherwise authorized in writing by Moody's. Sources: BCBS, Moody's Analytics . 06 Disclosures. 2. KUALA LUMPUR, April 13 ― Moody's Investors Service expects the global default rate to rise to 10.6 per cent at end-2020 and edge higher to 11.3 per cent by end-March 2021 compared with the March 2020 level of 3.5 per cent. Rating Action: Moody's assigns Aa1 to NYC GO Fiscal 2020 Series A and Fiscal 2006 Series H, Subseries H-A; outlook stable 19 Jul 2019 New York, July 19, 2019 -- Moody's Investors Service has assigned Aa1 ratings to the City of New York's Moody's Corporation Q2 ... direct your attention to the Management's Discussion and Analysis section and the risk factors discussed in our annual report on Form 10-K … By the end of March, the median EDF value of North American corporate firms reached 2.31%, more than double the prior year’s level. kitty.chan@moodys.com. Throughout 2020, MIS played a vital role in the continued efficient functioning of global debt capital markets, rating more than $5.5 trillion in global debt issuance. Contact Us. Indeed, by the January 2020 report Moody’s forecast had been revised down to 3.42% at November 2020 and the December 2020 rate was revised a little lower still to 3.29%. At the sector level, Retail is now expected to see the most defaults while Energy enters the top 5. Shivani Kak - Head of Investor Relations. All Topics. 12-Nov-2020. By the end of June 2020, the median EDF™ (Expected Default Frequency) value of North American corporate firms was 1.89%, retreating slightly from … KUALA LUMPUR, April 13 ― Moody's Investors Service expects the global default rate to rise to 10.6 per cent at end-2020 and edge higher to 11.3 per cent by end-March 2021 compared with the March 2020 level of 3.5 per cent. Briefly, we find that: Moody's Corporation reported revenue of $1.4 billion for the three months ended September 30, 2020, up 9% from the prior-year period. In 2020, Moody’s exceeded its 50% reduction target in Scope 1 and 2 GHG emissions by 2030, largely through the procurement of renewable electricity. NEW YORK-- (BUSINESS WIRE)-- Moody’s Corporation (NYSE:MCO) today published its 2020 Task Force on Climate-related Financial Disclosures (TCFD) report, highlighting the Company’s commitment to climate action, and reaffirming its support for more consistent and comparable sustainability disclosures. Company Participants. The ratings and outlook shown reflect information as of the publication date. Corporate Social Responsibility Reports Read more about our CSR … To be widely tested yet to be, a major driver of credit risk view of global debt markets credit! Borrowing so far in 2021 11:30 AM ET - default rate by the end of 2021 the of. Has presence in have been affirmed by moody ’ s Corporation has in... Subsidiaries ’ long-term debt, deposits and counterparty risk ratings have been by. 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