Moody’s Investors Service

Agencies rethink market risk rating methods

The three largest global rating agencies are reconsidering their approach to rating structures exposed to fluctuations in market value, with potentially unpalatable results for holders and arrangers of various structured credit products.

Moody’s: 2008 marks turning point for credit cycle

New York-based rating agency Moody’s Investors Service said the global corporate default rate had reached its lowest level in two decades by the end of 2007, although it expected a “sharp rise” in 2008.

CPDO ratings hang in the balance

Investors in constant proportion debt obligations (CPDOs) were given an unwanted early Christmas present by rating agencies, as Standard & Poor’s (S&P) and Moody’s Investors Service put the ratings of CPDO notes on review for a possible downgrade.

The bigger picture

In 2003, rating agencies considered operational risk as a separate risk category, but quantification problems have prompted them to take an integrated, enterprise risk management approach.

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