The MIR® (Moody's Market Implied Ratings) service allows you to isolate changes in risk for individual issuers from the noise of the markets. Market signals capture market sentiment about the credit quality of a given company, providing you with insight into the opinions of your peers.
The MIR® service compares the signals for a given company to market-wide measures, usually median credit spreads. These signals, along with additional metrics, help you to detect credit deterioration early, focus your analysis on the riskiest exposures, and avoid losses in your portfolio.
Credit professionals use Market Implied Ratings to:
-
Screen for potential ratings changes
-
Manage counter-party risk
-
Search for relative value trading opportunities
-
Perform peer group analysis on specific issuers
Bear Stearns ExampleThe ~25bp rise in Bear Stearns’ CDS spread in March translated into a 3-notchfall in its CDS-Implied Rating, signaling increased credit risk 10 months before Moody’s downgraded BSC’s rating from A1 to A2.
Service Features
 |
With Market Implied Ratings, you can:
Detect credit changes at an early stage by reviewing signals from several markets and sources such as CDS-Implied Ratings, Bond-Implied Ratings, Equity-Implied Ratings, LCDS-Implied Ratings and Ratings implied by financial ratios.
Focus your analysis on the riskiest exposures by having summary reports sent directly to your inbox. You can customize your summaries to follow only companies relevant to you, set up daily, weekly or monthly alerts, and select criteria for alert generation. |
Interpret market signals easily through MIR's transparent approach which bases the median credit spread or price on the best data from several vendors and then identifies each company's equivalent spread or price for the corresponding signal.
Strengthen your analysis with input from Moody's Capital Markets Research Group's team of experts who monitor major industry sectors and provide timely commentary on changes in market risk signals for sectors and entities.
The underlying data is also available via MIR® Bulk Data Downloads, which provides access to the entire MIR database or a subset of the data for custom MIR analysis. Specifically, you can:
Focus your issuer analysis at the global or regional level by integrating the relevant MIR® datasets with your internal tools
Analyze and compare results across different risk metrics by integrating daily downloads of three different median credit spreads -- bonds over treasuries, bonds over LIBOR, and the spread for 5-year credit default swaps
Access MIR Data: MIR® Bulk Data Downloads |
 |
Research and Services: Moodys Capital Markets Research Group* Moody’s Analytics markets and distributes all Capital Markets Research, Inc materials. Capital Markets Research, Inc is a subsidiary of Moody’s Corporation. Moody’s Analytics does not provide investment advisory services or products.
Contact Us
