(1), West Virginia (6), Bosnia and Herzegovina You have reached the daily limit of Research email sharings. (2), Kyrgyzstan (MJKK) is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moodys Overseas Holdings Inc., a wholly-owned subsidiary of MCO. RiskCalc v3.1 does a good job of predicting actual default rates. (8), Armenia Mr. Goggins was an Associate with Cadwalader, Wickersham & Taft from 1985 to 1995 where he worked on mergers and acquisitions. (8), Organisation for Economic Co-operation and Development (OECD) In 2021, we set out three strategic priorities that are critical to meeting this need: sharpening our understanding of our customers needs, investing with intent to grow and scale, and collaborating, modernizing and innovating. In this new report, Moody's forecasts that the rate will peak at 7.3% in March 2021, and then decline to 4.7% by December. He began his career in the investment banking division of Credit Suisse First Boston. Vice President, TreasurerMr. Prior to his work at MassMutual, Mark held a range of senior finance leadership roles at Voya Financial (formerly ING U.S.). (10), Spain (6), Oman He also managed a global business with a presence in over 100 countries. He serves as a director of the Community Foundation of Brazos Valley where he served as Chairman from July 2013 to June 2014 and currently serves as the chairman of the Investment Committee.Mr. Mr. West served as Managing DirectorHead of MIS Ratings and Research from June 2016 to October 2019. 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. 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. Over the course of the year, we have executed on those priorities, investing in capabilities to better serve a broader range of customers and accelerating our ambition to be the leading global provider of integrated perspectives on risk. The maximum number of items you can export is 3,000. (1), Wyoming Ms. Gurian started her career in government, where she served as a senior trial counsel in the New York County District Attorneys Office, and subsequently as the Deputy Commissioner for the New York City Department of Investigation and Deputy Commissioner and Chief Counsel for the New York State Commission of Investigation. Ms. Alsop currently serves on the Trident American Dreams Advisory Board and is a founding member of the Womens Business Resource Group at Moodys. Moody's municipal ratings are opinions of the investment quality of the issues and issues in the US municipal and tax-exempt markets. (160), Recovery Studies (6), Iceland (6), Russia Ultimate Recovery Default Rate MethodologyMoodys 35 Industry Default, Migration, & LGD Second-Lien Debt Risk 2015 HY Ultimate Recovery US Distressed Exchanges, Dial the AT&T Direct Dial Access code for, We brought you to this page based on your search query. (2), Mali Crystallisation of tail risks can drive large shifts in credit conditions, The COVID-19 pandemic and Russia's invasion of Ukraine demonstrate that when. For illustrative . I am very proud that our expertise and focus on supporting credit markets was recognized by Institutional Investor as Best Credit Rating Agency for the tenth consecutive year.We also significantly expanded the ways we are helping markets better understand ESG issues, including the risks and opportunities around climate change. This page provides a central resource for Moodys research on default risks, impairment and loss rates, ratingtransitions and performance, and liquidity studies. (1), New York Mr. McDaniel served as the Companys President from October 2004 until April 2005 and the Companys Chief Operating Officer from January 2004 until April 2005. (1), New Jersey MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. (2), Burundi (1), B3 Negative and Lower 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. (1), Missouri (6), Papua New Guinea While default risks are growing, the global speculative-grade default rate is not likely to rise sharply over the next 12 months. Mr. Platt holds an M.B.A. from The University of Chicago, a B.A. Despite the severity of the 2020 recession, the current default cycle will peak at a lower rate than those associated with the last three recessions. (270), Uruguay (2), Dominican Republic Moody's Investors Service Risk Quantification Evaluate, manage, and mitigate climate risks and their impacts through scenario analysis, quantitative modelling and stress testing. (5), Yemen . (1), Delaware New York, January 07, 2013 -- Moody's Investors Service today announced that in mid-January 2013 it expects to introduce a new rating scale for probability of default ratings (PDR) in order to differentiate probability of default ratings from ratings that use Moody's global long-term scale. Breed was a finalist for the New York CIO of the Year ORBIE Award in the Global category. Van Saun currently serves as the chief executive officer and chairman of a U.S. bank. Looking at the risk profile of the Swedish corporate bond market reveals several notable trends. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold credit ratings from Moodys Investors Service and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually at www.moodys.com under the heading Investor Relations Corporate Governance Director and Shareholder Affiliation Policy. Additional terms for Australia only: Any publication into Australia of this document is pursuant to the Australian Financial Services License of MOODYS affiliate, Moodys Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moodys Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (as applicable). (2), Bermuda President & Chief Executive OfficerRob Fauber became President and Chief Executive Officer of Moodys Corporation on January 1, 2021 and was elected to the Board of Directors effective October 22, 2020. As a result, Mr. Bermudez brings a deep understanding of credit risk and years of financial expertise, as well as risk management experience, to the Board. Prior to that, from July 2009 to October 2016, Mr. Serafin served as a Corporate Vice President at Microsoft Corporation, a multi-national technology company. Sullivan has served as the Companys Senior Vice PresidentCorporate Controller since December 2018. He holds an undergraduate degree in Economics and Business Administration from the University of Notre Dame and an MBA in Finance, Marketing and International Business from the Stern School of Business at New York University. In 2021, Business Services and Hotel, Gaming & Leisure are expected to have the most defaults, followed by Oil & Gas. He served as President of Moodys Investors Service from 2016 to 2019 and was Head of Moodys Investors Services Global Commercial Group from 2013 to 2016, overseeing relationship management, product development, and strategy for the rating agency. (1), Wisconsin (2), Kazakhstan (2007) paper, which uses the Moody's hazard rate of default (if the credit rating for a firm is not available, . Her experiences and expertise enhance the Boards ability to oversee the Companys global operations and effectively manage risk. Study shows repeated company defaults usually reflect prolonged industry stress. (53), U.S. Public Finance 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. (2), Angola (826), Sub-Sovereign As a result, he brings to the Board a deep understanding of the Companys business and operations as well as a historical perspective on the Companys strategy. (2), Gibraltar Previously, he served as Counsel for Dow Jones & Company from 1995 to 1999 during which he was responsible for SEC compliance, corporate finance, executive compensation, investor relations, and negotiating acquisitions, depositions and joint ventures. (9), Tajikistan He served as Chief Risk Officer of Citigroup, Inc., a global financial services company, from November 2007 to March 2008. 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. (1938), German reference to Moody's idealized loss and default tables (see Appendix B). Dial the AT&T Direct Dial Access code for, We brought you to this page based on your search query. (6), Mercosur Oil & Gas, Retail and Business Services sectors were the three largest contributors to corporate defaults in 2020. Kenney currently serves on the Board of Governors for the New York Institute of Internal Auditors and Hetrick Martin Institute. Howell serves as a chief financial officer and treasurer of a major business management consulting firm, which allows him to bring an extensive executive leadership experience and business management expertise that span over a number of industries and both domestic and international markets. Moody's denotes bonds rated Baa3 or higher as investment grade. From 2019 to 2021, Ms. Kazanjian held various people leadership roles at WeWork, leading into her role as Chief People Officer. (6), Czech Republic The decline in free cash flow in 2017 was primarily due to a settlement with the U.S. Department of Justice and the attorneys general of 21 U.S. states and the District of Columbia. From 1987 to 1996, Ms Seidman served as Vice President, Accounting Policy and in other roles at J.P. Morgan & Company, Inc. (now JPMorgan Chase) and from 1984 to 1987, Ms Seidman served as an auditor for Arthur Young & Co. (now EY). We see our role as a corporate citizen to help build a world where more people have access to opportunity and where everyone has the resources to grow and thrive. She is responsible for the supervision of global regulatory and compliance interactions, the management of regulatory examinations and all centralized compliance functions. Moodys Analytics provides tools for the most crucial aspects of the expected loss impairment model, with robust solutions to aggregate data, calculate expected credit losses, and derive and report provisions. Ms. (2), Andorra (3), Norway Ms. Elliott earned a B.A. (2), Venezuela LONDON, March 10, 2021 - Moody's ESG Solutions Group today announced the launch of Climate Solutions, a comprehensive product suite that provides market participants with enhanced risk measurement and evaluation tools to better understand, quantify and manage climate risks and opportunities.Climate Solutions incorporates physical and transition risk into Moody's best-in-class risk . 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. At Moodys, we believe we play an important role in supporting a sustainable future, and that means we must support our people, our communities and our environment.In 2021, we published our inaugural Sustainability Report (available at about.moodys.io/sustainability-reports) highlighting our commitments, initiatives, and achievements.Our greatest asset is our people.We continue to advance our commitment to a diverse and inclusive work environment because we believe that a workforce with an array of backgrounds and experiences greatly contributes to the quality of our opinions, products and services.In 2021, we published multi-year goals for the diversity of our workforce, supported by a range of initiatives and programs that foster inclusion. (3), Germany (2), Guinea-Bissau (6), Solomon Islands It also enables you to identify factors contributing to default experience in each economic cycle. 15 Dec 2022. 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. (100), Other Studies He has also served on the Board of Directors of ICRA Limited, Moodys affiliate in India. He has served as the Executive Vice President, Chief Financial Officer and Treasurer of Booz Allen Hamilton Holding Corporation (BAH), a business management consulting company, since 2016. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided AS IS without warranty of any kind. He has experience leading a large global business in a regulated industry, including significant experience in large M&A transactions. Mr. Howell previously served as a director of Integra Lifesciences Holdings Corporation, a medical devices company (2013-February 2021). (1), District of Columbia (6), Puerto Rico He enjoys spending time with his family and is a licensed pilot. (2), Finland (6), Syria (2), Kenya (2), Gambia Probabilities of default Bloomberg Professional Services February 08, 2021 The credit quality of an entity is essential information that reflects that entity's financial health and its. Already a Client? McDaniel began his career at the Company serving as a ratings analyst and served in numerous capacities at the Company over the past three decades. (1), Georgia Our study of company defaults globally over the last 25 years shows repeated defaults were largely due to adverse industry trends, with the pandemic and high leverage also playing a role. (2), Lesotho Global speculative-grade corporate default rate was unchanged in November. 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. He currently serves as a member of the Board of Trustees of Lehigh University since rejoining the Board in July 2020 after previously serving from 2011 to 2017. There are no sessions currently scheduled, Bank Asset & Liability Management Solutions, Buy-Side Asset & Liability Management Solutions, Pension Plan, Endowments, and Consultants, Current Expected Credit Loss Model (CECL), Internal Capital Adequacy Assessment Program (ICAAP), Simplified Supervisory Formula Approach (S)SFA, Debt Market Issuance, Analysis & Investing, LEARN MORE ABOUT VIRTUAL CLASSROOM COURSES. (1), North Dakota (2), Zambia We assigned nearly 1,800 ESG Credit Impact Scores to help investors understand the impact of ESG factors on credit risk, as well as new Carbon Transition Assessments for nearly 400 issuers across the most exposed sectors.We launched Moodys ESG Score Predictor, which provides ESG estimates, carbon emissions footprint, and transition and physical risk factors for over 140 million companies, supporting customers needs around sustainable sourcing and supply chains.Ahead of COP26, we launched the Moodys on Climate Campaign which generated close to 10 million content impressions, illustrating the markets strong interest in Moodys ESG insights.In September, we closed on our acquisition of RMS, a leading risk analytics business serving the global insurance industry.This enables us both to provide a more comprehensive suite of offerings to our life, property and casualty (P&C) and reinsurance customers and to leverage RMS world-class models and expertise in weather, climate and disaster risk in providing risk solutions beyond insurance.We advanced our screening and onboarding offerings, aided by several key acquisitions.We are helping our customers digitize and automate the Know Your Customer (KYC) process, providing a streamlined workflow with proprietary company, ownership, and people data. 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