Mr. Hogan served as the companys Assistant Corporate Controller from September 2016 to September 2019. Breed is responsible for all global enterprise technology programs and activities. The last term is a measure for the probability that the firm defaults in period t + s, where t is the default probability at time t, . Mr. McDaniel currently is a director of John Wiley & Sons, Inc. (2005-present) and a member of the Board of Trustees of Muhlenberg College (2015-present).Mr. This includes our Business Resource Groups, which count more than half of our employees as members, and our work to empower our leaders, managers and individual employees in reinforcing an inclusive culture. . (2), Egypt from Pennsylvania State University and is a certified project management professional. (6), Rwanda (55), Micronesia Prior to joining Moodys, Ms. Gurian held executive positions in the Compliance Department of Prudential Financial, including Chief Compliance Officer for Prudentials insurance broker-dealer, and, subsequently for their corporate centers. The markets looked to Moodys for our expertise and insights in navigating evolving credit conditions, and many organizations sought our help in making better, more informed decisions in financing, screening, lending, insuring and investing. (6), Equatorial Guinea (2), Tanzania, United Republic of (9), Maldives Moody's denotes bonds rated Baa3 or higher as investment grade. (2), Mexico Credit Strategy and Standards Index of Reference Documents. Financial specialist with 5+ years of experience across quantitative research, macroeconomic analysis, and data science. Previously, he was a Managing Director in the M&A groups at Deutsche Bank and Bank of America and held similar roles in the M&A groups at Citigroup and Donaldson, Lufkin & Jenrette. In that role, she supervised the corporate investigations and anti-money laundering divisions and the companys regulatory examination program. Product development work and acquisitions complemented and enhanced investments in Moodys core credit ratings and research offerings, data and analytic capabilities, and will help ensure the continued relevance and value of these offerings to customers.The acquisition of RMS established Moodys as a leader in insurance and data analytics and brought valuable new expertise in modeling extreme weather and climate risk, as well as other catastrophes. 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. (6), Lebanon We also launched the next generation of Supply Chain Catalyst, offering our customers an enterprise-wide view of critical supply chain relationships, including factors such as financial health, sustainability and reputational risk.In response to intense need for interconnected CRE data and analytics to support lending and investing workflows, we accelerated the development of our SaaS workflow solution for CRE lenders and our portfolio monitoring solution for CRE investors. (9), High Yield Interest Mr. Tulenko joined Moodys in 1990. He has extensive executive experience, having formerly held several additional senior management positions at banks. Prior to joining Moodys, Mr. Kenney was a Managing Director at Deloitte, serving as leader to several internal audit departments, external financial statement audits, Sarbanes-Oxley compliance efforts and large regulatory compliance engagements. US Credit Compass indicates further deterioration as lending standards tighten and sentiment worsens, The performance of Moody's corporate debt ratings Q2 2022, This publication provides updated measures of the, Corporate defaults more than double in August from the prior month. (1), Rhode Island Prior to Moodys, he held roles in alternative investments, corporate strategy & business development, and investment banking at Citi. London +44-20-7772-5456, Tokyo +813-5408-4110, Hong Kong 2023 Moody's Investors Service, Inc., Moodys Analytics, Inc. and/or their affiliates and licensors. Vice President, TreasurerMr. (9), Poland (1), ESG Credit and Sustainable Finance (53), U.S. Public Finance She served as a Public Governor of the Financial Industry Regulatory Authority (FINRA). (2), Italy 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. Mr. Forlenza joined BD in 1980 and served in a number of different capacities, including strategic planning, business development, research and development, and general management in each of BDs segments and in overseas roles. He began his career as a Senior Investment Analyst in the Fixed Income Division at Fidelity Investments where his responsibilities included credit risk assessment, setting exposure limits and investment oversight for a range of corporate and municipal credits and structured products. Consequently, we can approximate between 64,000 and a little over 100,000 mortgages will be at risk of a default in Louisiana over the next few months. in economics and history from Amherst College. (364), Association of Southeast Asian Nations (ASEAN) Moody's returned $116 million to its stockholders via dividend payments during the second quarter of 2021. Data for separately estimating the probability of default, loss given default, and overall expected loss, More than 800,000 individual debt securities. (3), The Credit Cycle Turns Mr. West served as Managing DirectorHead of MIS Ratings and Research from June 2016 to October 2019. Mr. McDaniel served as the Companys Executive Vice President from April 2003 to January 2004, and as Senior Vice President, Global Ratings and Research from November 2000 until April 2003. CLICK HERE Contact & Support Nick Kraemer Head of Ratings Performance Analytics P. + 1 (212) 438-1698 E. nick.kraemer@spglobal.com Oil & Gas, Retail and Business Services sectors were the three largest contributors to corporate defaults in 2020. Mr. Fauber earned his B.A. Environmental, social and governance (ESG), cybersecurity and other emerging risks have become more relevant to our core business of credit and risk management, evidenced by increasingly and at times stark event-driven impacts on businesses and the communities they support.. (10), Spain (6), Ghana Platt is SVP & Chief Strategy Officer for Moodys Corporation, with responsibility for Global Corporate Development and Corporate Affairs, which encompasses Global Communications and Branding, Corporate Social Responsibility and Government, Public & Regulatory Affairs. All rights reserved. (2), Cambodia (2), Romania Default, Transition, and Recovery: Global Corporate Defaults Push Past 2021's Year-End Total S&P Global Ratings Ratings360 (FOR RATED ISSUERS) S&P Global Market Intelligence CreditPro View our upcoming events. As I observed last year, our customers seek solutions to help them identify, measure and manage a wider range of interconnected risks. (1271), Europe, Middle East & Africa (2), Taiwan, China Global speculative-grade corporate default rate was unchanged in November. To help address the emerging cyber risk segment, in 2021 Moodys invested and partnered with BitSight, a pioneer in cybersecurity ratings and analytics. Chairman & Chief Executive OfficerCitizens Financial Group, Inc.Director since March 2016 Bruce Van Saun, age 64, is a member of the Audit, Governance & Nominating and Compensation & Human Resources Committees of the Board of Directors. (6), Niger (6), United Kingdom 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. (2), Eritrea (1), Colorado For example, an A- rated bond has a probability of default over five years of 0.57%. (6), Hong Kong SAR, China Above all, we are inspired to help uncover meaning amid uncertainty so individuals and organizations can thrive, which drives our ambition to be the leading provider of global integrated perspectives on risk. The report is available on www.fitchratings.com or by clicking on the link above. Moody's Investors Service analysts use this data to produce the Annual Default Study, read by market participants globally. He currently serves on the Executive Committee of the Board of Directors. (6), Syria (1), New Mexico 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). Van Saun currently serves as the chief executive officer and chairman of a U.S. bank. (70), New Zealand Risk of sponsor default: Moody's assumed a 60% decrease in the probability of default (from Moody's idealized default probability tables) implied by the B1 rating of the sponsor. DRA also publishes impairment and loss studies for structured finance sectors. Mr. Goggins was an Associate with Cadwalader, Wickersham & Taft from 1985 to 1995 where he worked on mergers and acquisitions. He previously served as the Companys President and Chief Executive Officer from April 2012 to December 2020, and served as the Chairman and Chief Executive Officer from April 2005 until April 2012. (1369), Global Executive Vice President & General CounselJohn Goggins is Executive Vice President and General Counsel of Moodys Corporation. She joined Moodys in 2018 after nearly 30 years of diverse experience across all dimensions of technology, finance and large-scale project management/system implementation. http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1258722. Before Moodys Analytics was formed in 2008, Mr. Tulenko developed extensive customer experience and held several leadership roles in sales, product development and marketing within Moodys. (2), Belgium (1), California (1), Virginia (1), Arizona (1), Oregon He has also served on the Board of Directors of ICRA Limited, Moodys affiliate in India. (2), Chile (1), Arkansas (2), Finland (2), Sao Tome and Principe Methodology Ms Seidman previously served as a Public Governor of the Financial Industry Regulatory Authority (2014-2019). (5), Growth: Macroeconomic outlook & insights on fiscal and monetary policies Ms. Kazanjian holds a J.D. in economics from the University of Virginia and his M.B.A. from the Johnson School of Management at Cornell University. (6), Iceland June 2021 . (2), Senegal Announcement: Moody's appends Belk's Probability of Default rating of Ca-PD with LD designationGlobal Credit Research - 04 Feb 2021New York, February 04, 2021 -- Moody's Investors Service, ("Moody . Chief People OfficerMaral Kazanjian is the Chief People Officer of Moodys Corporation she is also a member of the Executive Leadership Team. (1), Kansas (2), Higher Rates, Slower Growth Investment-grade companies have exhibited greater stability in terms of changes in credit quality and ratings. Please reduce your list by using the filtering tool to the left. Mr. Kenney is also a Certified Information Systems Auditor (ISACA), Certified Informational Technology Professional (AICPA), Certified in Risk and Information Systems Controls and a Chartered Global Management Accountant. Default & Recovery Database | Moody's Analytics Default & Recovery Database With default data going back to 1920, the Default & Recovery Database (DRD) allows you to look at how default experience varies at different points in the economic cycle. AND/OR ITS AFFILIATES. (6), Japan (2), Mali Default Trends and Rating Transitions | Moody's Default Trends and Rating Transitions This page provides a central resource for Moody's research on default risks, impairment and loss rates, rating transitions and performance, and liquidity studies. By contrast, the pandemic disproportionately affected speculative-grade companies, which accounted for almost 90% of all corporate downgrades. With the inclusion of sector data and default rates and the inclusion of market data, the default probabilities are more accurate and move more responsively to reflect the change in default rates as conditions change. Allows users to calculate the probability that any specific credit will cross a predefined threshold by a particular date. (3), Norway (2), Mongolia (2), Guatemala METRICS AND TARGETS 10 SCOPE 2 GHG EMISSION REDUCTION 10. (6), India (1), South Dakota (5), Macedonia (former Yugoslav Republic of) (2), Guam IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODYS PRIOR WRITTEN CONSENT.MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK.All information contained herein is obtained by MOODYS from sources believed by it to be accurate and reliable. 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