(191), Rating Transition Studies To address these risks, they need to go beyond data into context and beyond context into meaning. As shown in Table 1 below for non-financial corporates domiciled in North America, the three major common drivers of a score that is worse than 'b-' are as follows: Table 1: Main Drivers of weak credit assessment for North American non-financial companies. Moody's Default and Ratings Analytics team publishes Moody's default studies, ratings transitions and ratings performance studies for corporates, financial institutions, sovereign and sub-sovereign, public finance and infrastructure sectors. (1), Indiana Throughout 2021, the global pandemic continued to impact Moodys employees, customers, stockholders and communities. Mr. Goggins was an Associate with Cadwalader, Wickersham & Taft from 1985 to 1995 where he worked on mergers and acquisitions. The maximum number of items you can export is 3,000. (70), New Zealand While default risks are growing, the global speculative-grade default rate is not likely to rise sharply over the next 12 months. Passed Level II of the CFA Program (Feb 2022). The Company is proud to have met its Supplier Diversity Initiative pledge to increase the representation of women-owned businesses in its supply chain, and of the commitment made in 2021 to materially increase the population of women, and U.S. Black and Hispanic / Latino leaders across the company by 2025. (8), Organisation for Economic Co-operation and Development (OECD) (6), South Korea (53), Jersey Mr. Hogan served as the companys Assistant Corporate Controller from September 2016 to September 2019. We held over 13,000 customer engagement meetings, a 12% increase over 2020. (2), Higher Rates, Slower Growth (2), Nepal CreditEdge is also used by buy-side investors for relative value analysis. We also advanced the transition of our banking and insurance solutions to SaaS, deepening and streamlining the ways we support many mid-sized financial institutions. This rating is assigned to less creditworthy carriers and securities by the ratings . (975), Financial Institutions (9), High Yield Interest The 2021 global corporate default tally has increased to 69 following the defaults of China-based (Cayman Islands-incorporated) China Aoyuan Group Ltd. and one confidential issuer. 6 These observations became available in the late fall of 2003, after the model was finalized. Mr. Fauber earned his B.A. Moody's Investors Service Risk Quantification Evaluate, manage, and mitigate climate risks and their impacts through scenario analysis, quantitative modelling and stress testing. . Prior to joining Moodys, David spent ten years in Deloittes Assurance practice, with a focus on clients within the Telecom, Media and Technology sector. By contrast, the pandemic disproportionately affected speculative-grade companies, which accounted for almost 90% of all corporate downgrades. While pandemic related risks to the economy remain present, we expect that the combination of vaccinations and policy support measures will support the economic recovery over the course of 2021, and the number of defaults this year will be lower than last year. (1), Oklahoma He leads a team whose mission is to provide near real-time data driven financial insight to support the execution of superior operational and strategic decisions. (6), Lebanon from 2005 to 2008, the Federal Reserve Bank of Dallas, Houston Branch from 2009 to 2011, the Federal Reserve Bank of Dallas from 2011 to 2017, the Association of Former Students, Texas A&M University from 2005 to 2012, the American Institute of Architects for the entirety of 2015, the Electric Reliability Council of Texas from 2010 to 2016. (6), Niger 0001193125-17-118614.txt : 20170410 0001193125-17-118614.hdr.sgml : 20170410 20170410164657 ACCESSION NUMBER: 0001193125-17-118614 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20170410 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet . I offer my sincere thanks to our employees, stockholders and customers for their support, and I look forward to a prosperous and successful year ahead. reference to Moody's idealized loss and default tables (see Appendix B). President & Chief Executive OfficerMoodys CorporationDirector since October 2020Robert Fauber, age 51, has served as the Companys President and Chief Executive Officer since January 2021. 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. (6), Central African Republic Moody's Investors Service provides investors with a comprehensive view of global debt markets through credit ratings and research. (46), Afghanistan (6), Burkina Faso (2), Mauritania (1), The Big Picture 2023 Moody's Investors Service, Inc., Moodys Analytics, Inc. and/or their affiliates and licensors. (3), Germany our global press information hotlines: New York +1-212-553-0376, Ms. Sullivan, a CPA, previously held various senior positions at several banks and a major accounting firm, and is a member of the Board of Directors of Financial Executives International. (9), Togo (2), Senegal Robs deep knowledge of the business and customers needs has been invaluable in navigating through the rapidly changing global landscape.I am confident that Moodys ongoing evolution as a global integrated risk assessment business will continue to position the Company at the forefront of helping customers to operate with speed and sophistication in an increasingly complex and interconnected world. (6), Ghana (2), Kazakhstan (1), Oregon (9), Poland (2), Bhutan in Statistics and Actuarial Science, both from the Wharton School at the University of Pennsylvania, and is a Fellow of the Society of Actuaries. In addition to an increase in defaults, there was also a larger number of negative rating actions in 2020, as business disruptions caused a deterioration in credit metrics in many sectors and regions. (6), Belize TABLE OF CONTENTS INTRODUCTION 1 GOVERNANCE 2 STRATEGY 3 RISKS ASSOCIATED TO CLIMATE CHANGE 3 . (18), Colombia (100), Other Studies (1), Arizona 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. He is an actively involved diversity and inclusion leader and business partner, with a passion for creating a high performance and transparent culture, developing talent and fostering employee growth. (6), Papua New Guinea Prior to Cisco, Ms Hill had a number of engineering roles at various technology companies. (1369), Global Default Trends - Latin America & Caribbean: Latin American corporate default rate will rise gradually in 2023 as growth stalls. All Rights Reserved. It also enables you to identify factors contributing to default experience in each economic cycle. Chief Financial OfficerMark Kaye is the Chief Financial Officer of Moodys Corporation with responsibility and oversight for all global financial activities. . Vice President, TreasurerMr. (55), Micronesia 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. . (649), Infrastructure & Project Finance 001-888-779-5833, So Paulo 0800-891-2518, or Buenos Aires Decisions around classification of assets into different stages and the calculation of the expected credit losses require consideration of forward . From 1992 to 1996, Mr. Fauber worked at NationsBank (now Bank of America) in the middle market commercial banking group.Mr. Additionally, DRA publishes analytical research reports on topics that are of interest to broader fixed-income markets community.. Moody's returned $116 million to its stockholders via dividend payments during the fourth quarter of 2021. Prior to that, Mr. Van Saun held a number of senior positions with Bank of New York and later Bank of New York Mellon over an 11-year period. He currently serves on the Executive Committee of the Board of Directors. (9), Indonesia (1), New Technologies MOODYS PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODYS ANALYTICS, INC. Head of Global Corporate AffairsChristine Elliott is Managing Director - Head of Global Corporate Affairs. Default Risk Service Structured Finance. (5), Growth: Macroeconomic outlook & insights on fiscal and monetary policies 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. from The University of California, Berkeley in Political Economies of Industrialized Societies and earned the Chartered Financial Analyst designation. We achieved revenue growth of 16% and adjusted diluted EPS growth of 21%, our second consecutive year of over 20% growth amidst the pandemic.Moodys Investors Service (MIS) revenue grew 16% on the strength of buoyant issuance markets and our comprehensive coverage of global debt markets.Moodys Analytics (MA) revenue grew 16%, supported by 9% organic revenue growth, as well as several acquisitions. (2021) note that one third of all U.S. corporate bonds have a fixed call feature, . Looking back on my first year as CEO, I am enormously proud of the tremendous dedication and resilience of our employees as we delivered for our stakeholders through yet another year of the pandemic. MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. (2), Guatemala 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. (1), Texas 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. He has served as Chairman and Chief Executive Officer of Citizens Financial Group, Inc. (Citizens), a large regional bank, since October 2013. (6), United Kingdom (1), Coronavirus Effects Breed was a finalist for the New York CIO of the Year ORBIE Award in the Global category. Please complete your profile before submitting your comments. 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