Head of Global Corporate AffairsChristine Elliott is Managing Director - Head of Global Corporate Affairs. (2), Liberia (MSFJ) is a wholly-owned credit rating agency subsidiary of MJKK. (1), District of Columbia We assigned nearly 1,800 ESG Credit Impact Scores to help investors understand the impact of ESG factors on credit risk, as well as new Carbon Transition Assessments for nearly 400 issuers across the most exposed sectors.We launched Moodys ESG Score Predictor, which provides ESG estimates, carbon emissions footprint, and transition and physical risk factors for over 140 million companies, supporting customers needs around sustainable sourcing and supply chains.Ahead of COP26, we launched the Moodys on Climate Campaign which generated close to 10 million content impressions, illustrating the markets strong interest in Moodys ESG insights.In September, we closed on our acquisition of RMS, a leading risk analytics business serving the global insurance industry.This enables us both to provide a more comprehensive suite of offerings to our life, property and casualty (P&C) and reinsurance customers and to leverage RMS world-class models and expertise in weather, climate and disaster risk in providing risk solutions beyond insurance.We advanced our screening and onboarding offerings, aided by several key acquisitions.We are helping our customers digitize and automate the Know Your Customer (KYC) process, providing a streamlined workflow with proprietary company, ownership, and people data. (5), Barbados Chief of StaffTameka Alsop is Managing Director, Chief of Staff to the CEO at Moodys Corporation and a member of the Executive Leadership Team. He held the additional titles of President from November 2001 to August 2007 and December 2008 to November 2010 and Chairman from October 2007 until June 2015. (9), High Yield Interest Ms. Elliott has more than 25 years in senior-level corporate communications roles. The Moody's Analytics PD is an aggregation of all the sources of credit risk assessable for a given borrower. (6), Philippines He is admitted to the New York State bar. Moodys seeks to be a compass for our customers by leveraging our rich history and diverse expertise to provide a holistic view of risk and opportunity. (2), Higher Rates, Slower Growth SUMMARY REPORTS Reports FILTER BY Type Sector Region Date Range SYNOPSIS 1 2 3 4 5 6 7 8 9 10 Next (2), Somalia http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1258722. (6), France He served as a director of Citibank N.A. (1), Wisconsin (2), Latvia He served as Chief Risk Officer of Citigroup, Inc., a global financial services company, from November 2007 to March 2008. (6), Comoros . His substantive expertise extends to enterprise collaboration services, artificial intelligence and user experience. (MJKK) is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moodys Overseas Holdings Inc., a wholly-owned subsidiary of MCO. In this role, Ms. Kazanjian is primarily responsible for setting and overseeing the execution of the Company's strategy to attract, grow, and retain extraordinary talent in service of our business. During her tenure, the FASB established numerous accounting standards relating to financial instruments, including securitizations, derivatives and credit losses and worked with regulators and policy makers in the U.S., and in other major capital markets to develop consistent accounting standards. (33), Corporates (2), Albania (6), Japan Access Default & Recovery Database, Already subscribed? From 1992 to 1996, Mr. Fauber worked at NationsBank (now Bank of America) in the middle market commercial banking group.Mr. Senior Vice PresidentChief Information OfficerMona Breed is the Chief Information Officer (CIO) of Moodys Corporation. (2021) note that one third of all U.S. corporate bonds have a fixed call feature, . 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. I would like to acknowledge the many contributions of my fellow board members, and welcome Zig Serafin, CEO of Qualtrics, to the Moodys board. (1), Ohio Mr. Bermudez currently is the Chairman of the Smart Grid Center Board at Texas A&M University, and also serves on the Board of Directors of AB Mutual Funds, overseeing approximately 70 funds within the mutual fund complex (January 2020-present). (8), Armenia Her experience as the Chairman of the Financial Accounting Standards Board, executive at a major bank and auditor for a major accounting firm allows her to bring to the Board significant knowledge of global accounting and financial reporting matters in addition to regulatory and senior management experience. Mr. Fauber has also served as Head of Moodys Corporate Development. (2), Andorra (2), Sao Tome and Principe 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.. (2), Bulgaria (2), Trinidad & Tobago Chief Compliance OfficerHelene Gurian joined Moodys in 2010 and is the companys Chief Compliance Officer. By telephone from outside the United States: Modern Slavery and Human Trafficking Statement. (6), Niger CLICK HERE Contact & Support Nick Kraemer Head of Ratings Performance Analytics P. + 1 (212) 438-1698 E. nick.kraemer@spglobal.com Global speculative-grade corporate default rate was unchanged in November. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. Ms Seidman previously served as a Public Governor of the Financial Industry Regulatory Authority (2014-2019). Allows users to calculate the probability that any specific credit will cross a predefined threshold by a particular date. (58), Debt Sustainability Earlier in his career, he was also responsible for the research strategy for the ratings businesses and before that led Corporate Finance for the EMEA Region, European Corporates and the EMEA leveraged finance business. (6), Ecuador (2), Sudan (71), Rating Performance June 2021 . (6), Mercosur He was a member of the Texas A&M Foundation Board of Trustees (2014-2021). All rights reserved. Stockholders and other stakeholders may communicate with the Board, or with a specific director or directors, by writing to: 2022 Moodys Corporation, Moodys Investors Service, Inc., Moodys Analytics, Inc. and/or their licensors and affiliates (collectively, MOODYS). (7), United Arab Emirates (2), Guinea-Bissau Previously, he served as Counsel for Dow Jones & Company from 1995 to 1999 during which he was responsible for SEC compliance, corporate finance, executive compensation, investor relations, and negotiating acquisitions, depositions and joint ventures. Breed was a finalist for the New York CIO of the Year ORBIE Award in the Global category. (6), Slovenia (6), Denmark (1), Kansas This data file precedes Fitch's published 2020 transition and default studies. (2), Chad MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. (1), Florida President, Moody's AnalyticsStephen Tulenko serves as President for Moodys Analytics. 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. (6), Papua New Guinea This rating is assigned to less creditworthy carriers and securities by the ratings . She is also a member of the Dell, Zoom and AWS North American Customer Advisory Boards, and sits on the AEA Investors LP Senior Advisory Council. From 1987 to 1996, Ms Seidman served as Vice President, Accounting Policy and in other roles at J.P. Morgan & Company, Inc. (now JPMorgan Chase) and from 1984 to 1987, Ms Seidman served as an auditor for Arthur Young & Co. (now EY). 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. Former ChairmanFinancial Accounting Standards BoardDirector since December 2013Leslie F. Seidman, age 59, is Chairman of the Audit Committee and is a member of the Executive, Governance & Nominating and Compensation & Human Resources Committees of the Board of Directors. (2), Zambia (2), Algeria Loss given default (LGD) measures the expected loss, net of any recoveries, expressed as a percentage and will be unique to the industry or segment. He has experience leading a large global business in a regulated industry, including significant experience in large M&A transactions. (2), Egypt Already a Client? As in most recovery periods, defaults fell relative to the prior year, with the S&P Global Ratings global speculative-grade corporate default rate falling below 2% for only the eighth time in the past 41 . (1361), Asia Pacific He has also served on the Board of Directors of ICRA Limited, Moodys affiliate in India. Moody's anticipates revenue growth in the low single-digits in 2021 and 2022, supported by increasing spending by consumers, a pickup in demand for travel and other products that were. 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. (1), Missouri He served as the Executive Group President, Group Leader, Civil and Commercial Group, from 2013 to 2016, as Executive Vice President, Client Services Officer, from 2009 to 2013, and as Vice President, Strategy and Organization, from 2000 to 2009. She served as a Public Governor of the Financial Industry Regulatory Authority (FINRA). (2), Kazakhstan The decline in free cash flow in 2017 was primarily due to a settlement with the U.S. Department of Justice and the attorneys general of 21 U.S. states and the District of Columbia. Over the course of the year, we have executed on those priorities, investing in capabilities to better serve a broader range of customers and accelerating our ambition to be the leading global provider of integrated perspectives on risk. (6), Mozambique (6), Solomon Islands (2), Nepal (2), Eswatini (2), Saint Lucia Ms. Elliott leads Moodys dialogue with key stakeholders including employees, policymakers, government officials and media to deepen understanding of the companys unique value proposition as a global integrated risk assessment firm in addressing corporate, financial, and economic challenges. The maximum number of items you can export is 3,000. (7), Sri Lanka Ms. Kazanjian holds a J.D. He has extensive executive experience, having formerly held several additional senior management positions at banks. These impressive results are the product of the many investments we have made in our people and our offerings and speak to the value that customers place on our expertise and solutions. (2), Australia (5), Cameroon Mr. Kapusta holds a Masters Degree (LL.M.) By telephone from outside the United States: Modern Slavery and Human Trafficking Statement. From 2019 to 2021, Ms. Kazanjian held various people leadership roles at WeWork, leading into her role as Chief People Officer. Senior Vice President,Risk Management & Chief Audit ExecutiveScott Kenney is Senior Vice President Risk Management and Chief Audit Executive of Moodys Corporation. (6), Equatorial Guinea A firm is defined to default if there is a record of nominal default and one or more post-default prices are observed. He served as a director of Becton, Dickinson and Company (BD), a global medical technology company, from 2011 to April 2021 and as the Chairman of its board from 2012 to April 2021. 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. He began his career in the investment banking division of Credit Suisse First Boston. Prior to that, Ms. Kazanjian worked at Moodys for 11 years, in the Human Resources and Legal organizations, overseeing the Employment Law and Employee Relations teams. 19 Oct 2022 | Moody's Investors Service The speculative-grade corporate default rate will climb to 4.3% next year under our baseline forecast, up from 2.3% in September. TABLE OF CONTENTS INTRODUCTION 1 GOVERNANCE 2 STRATEGY 3 RISKS ASSOCIATED TO CLIMATE CHANGE 3 . (1), Minnesota 5 Moody's definition of default includes four types of credit events: - A missed or delayed disbursement of interest and/or principal; - Bankruptcy . If this isn't what you are looking for, you can, Moody's Default and Ratings Analytics team publishes Moodys default studies, ratings transitions and ratings performance studies for corporates, financial institutions, sovereign and sub-sovereign, public finance and infrastructure sectors. (1), Vermont 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. 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