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15 Mar 2010
The latest edition of our quarterly report takes stock of the highest-rated governments as they face an increasingly delicate balancing act. We conclude that all large Aaa governments have the capacity to rise to the challenges. We examine the obstacles facing France, Germany, the United Kingdom and the United States, as well as Spain and of the much less fiscally-challenged Nordic European countries … Full Report | Press Release
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15 Mar 2010
We examine the role of originators of European ABS and RMBS in supporting their transactions, and find that many provide support to struggling deals, in some cases preventing downgrades. We also look at the impact of interest rate rises in the Dutch, Spanish, and UK residential mortgage markets, and conclude that floating rate borrowers will be more exposed than their fixed rate counterparts... Full Report
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12 Mar 2010
The recovery is slowly gaining traction. Real GDP has been increasing since the middle of last year and job growth is set to resume. While the transition from recovery to a self-sustaining expansion faces a number of significant impediments, policymakers appear willing to provide just enough monetary and fiscal support to overcome them… Full Report
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11 Mar 2010
Practices involving the commingling and netting of collections of multiple RMBS deals in a shared custodial bank account have raised concerns about deals serviced by GMAC Mortgage, LLC, leading to some being placed on downgrade review. Our newsletter also discusses Lehman’s interest rate swaps and how they are likely to be transferred without negative credit implications, and January housing indicators being in line with a fitful recovery, among other topics … Full Report
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11 Mar 2010
We estimate that a 4%-5% drop in residual values because of ongoing recalls would potentially cost TMC approximately $750 million pre-tax. Additional stories in our newsletter discuss a recent Ford Credit floorplan transaction that did not hedge its interest rate risk, the impact of contract term on auto lease ABS, and why signs of improvement in the labor market will not translate into much improvement in new vehicle sales… Full Report
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15 Mar 2010
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15 Mar 2010
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15 Mar 2010
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15 Mar 2010
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11 Jan 2010
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Since its creation in 2002, Moody's Accounting Specialist Group has worked alongside Moody's credit analysts to incorporate accounting, financial reporting and internal control practices more systematically into the credit rating process. The group publishes research comments on issues within its area of expertise which Moody’s believes impact rated issuers’ credit quality. The group also conducts training for Moody’s analysts on relevant financial reporting, accounting and internal control issues which impact ratings. The Accounting Specialist Group is part of broader initiative to bring specialized expertise to Moody’s credit rating process. Along with specialists in accounting, financial reporting and internal controls, Moody’s Enhanced Analytic Group also has specialists with expertise in corporate governance; risk management; and complex financial instruments.
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Moody's Corporate Governance Analysis Group develops Moody's approach to corporate governance as an element in credit assessment. In particular, this includes the methodology used in published Corporate Governance Assessments, which provide commentary on the quality of governance at selected large issuers of debt. The Group also focuses on analyst education on corporate governance, and periodically publishes special comments on particular governance issues.
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Bond investors have become increasingly concerned about event risk and the absence of meaningful covenant protections in bond indentures, which leaves them exposed to potential credit losses. Moody's Covenant Quality Assessment (CQA) service provides an informed opinion of Covenant Quality, helping you make better decisions and saving you time.
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This topic contains the latest information from Moody's on its assessments of the financial guarantors, including recent press releases, analysis, methodology, and ratings information on securities wrapped, or insured, by these guarantors.
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In early 2007, Moody’s revised its bank rating methodology by incorporating Joint Default Analysis (JDA). At its core, the updated methodology considers two important features of a bank’s credit risk: (1) its intrinsic strength, and (2) its ability to obtain financial support from an outside entity should it default.
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