MOODYS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. 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. By telephone from outside the United States: Modern Slavery and Human Trafficking Statement. (1), The Big Picture (2), Bolivia (2), Kuwait 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). His service as a director also contributes to his focus on corporate governance matters. (2), Monaco (1), New Hampshire Mr. Forlenza previously served on the board of the Advanced Medical Technology Association (AdvaMed), an international medical technology trade organization.Mr. Default Report. (2), Angola (2), Venezuela Prior to this appointment, Mr. Tulenko was Executive Director of Enterprise Risk Solutions from 2013 to October 2019 and Executive Director of Sales, Customer Service and Marketing from 2008 to 2013. The Oil & Gas sector suffered from a very sharp drop in oil prices in 2020 as the pandemic severely curbed economic activity and energy demand, and the lack of an agreement on supply cuts early in 2020. 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. Mr. Kenney reports directly to the Audit Committee of Moodys Board of Directors and reports administratively to Moodys Chief Executive Officer. 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. from St. Johns University School of Law. (2), Estonia Prior to joining Moodys in 2013, Mr. Platt provided M&A and corporate finance advisory services to boards and companies across a wide range of industries. (2), Costa Rica Mr. Fauber earned his B.A. (2), Honduras 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. (2), Congo, Democratic Republic of (DRC) (1), Minnesota (2), Cuba (1), Regulation of Financial Institutions 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. Mr. Howell previously served as a director of Integra Lifesciences Holdings Corporation, a medical devices company (2013-February 2021). (826), Sub-Sovereign While default risks are growing, the global speculative-grade default rate is not likely to rise sharply over the next 12 months. Prior to joining Moodys, Mr. Fauber served in several roles at Citigroup and its investment banking subsidiary Salomon Smith Barney from 1999 to 2005. (6), Russia (2007) paper, which uses the Moody's hazard rate of default (if the credit rating for a firm is not available, . 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. Moody's municipal ratings are opinions of the investment quality of the issues and issues in the US municipal and tax-exempt markets. Mr. Fauber served as Vice PresidentCorporate Development from September 2005 to April 2009. 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. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided AS IS without warranty of any kind. in economics from the University of Virginia and his M.B.A. from the Johnson School of Management at Cornell University. 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. 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. 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 . 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. Global corporate default rate will climb as macroeconomic and credit conditions worsen, Global corporate default rate will nearly double in a year. (6), Netherlands Antilles You have reached the daily limit of Research email sharings. in Statistics and Actuarial Science, both from the Wharton School at the University of Pennsylvania, and is a Fellow of the Society of Actuaries. (6), Guinea Chairman of the Board of DirectorsMoodys CorporationDirector since April 2003 Raymond W. McDaniel, Jr., age 64, has been the Chairman of the Board since January 2021. He additionally brings experience in areas such as strategic planning, business development and new product development. He served as Chief Executive Officer of Moodys Investors Service from October 2007 to December 2020. 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. Investment-grade companies have exhibited greater stability in terms of changes in credit quality and ratings. (MSFJ) is a wholly-owned credit rating agency subsidiary of MJKK. (2), Trinidad & Tobago He served as President of Moodys Investors Service from 2016 to 2019 and was Head of Moodys Investors Services Global Commercial Group from 2013 to 2016, overseeing relationship management, product development, and strategy for the rating agency. From 1992 to 1996, Mr. Fauber worked at NationsBank (now Bank of America) in the middle market commercial banking group.Mr. (1), Washington That rate, if realized, would exceed the historical average. http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1258722. A probability of default rating (PDR) is a corporate family-level opinion of the relative likelihood that . (1), Tennessee default status of sele cted textile firm s is sourced fro m the audited an nual reports of selected textile firms fo r 15 years from 1 April 2004 to 31 st March 2019. (2), Cyprus (2), Cambodia (1434), Latin America & Caribbean As such, these ratings incorporate Moody's assessment of the default probability and loss severity of these issuers and issues. Mr. Hogan served as the companys Assistant Corporate Controller from September 2016 to September 2019. Dial the AT&T Direct Dial Access code for. The Company has filed its annual report on Form 10-K for the year ended December 31, 2021 with the Securities and Exchange Commission.The Form 10-K, along with other Moodys SEC filings and corporate governance documents, are available, without charge, upon request to the Investor Relations Department at the Corporate Office or on ir.moodys.com. The peak baseline estimate for the default rate was lowered from February 2021's 12.1% (as of early August 2020) to March -February 2021's 11.4% (as of early September). (6), Jordan 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. (2), Algeria Senior Vice President &Corporate ControllerMs. 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. Prior to joining Moodys, Mr. Kapusta served as counsel for a large New York City law firm and held several senior roles within Deloitte, where he provided corporate and tax advice to U.S. multinationals. (2), Brazil Important elements of this strategy in 2021 were the many investments made in new and evolving risk segments, including: cyber risk, Know Your Customer (KYC); Commercial Real Estate; Environmental, Social and Governance (ESG), and other high-growth adjacencies. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. All rights reserved. (2), South Africa He currently serves as President of the Moodys Foundation and is a member of the Board of Directors of BitSight Technologies, Inc. There are no sessions currently scheduled, Bank Asset & Liability Management Solutions, Buy-Side Asset & Liability Management Solutions, Pension Plan, Endowments, and Consultants, Current Expected Credit Loss Model (CECL), Internal Capital Adequacy Assessment Program (ICAAP), Simplified Supervisory Formula Approach (S)SFA, Debt Market Issuance, Analysis & Investing, LEARN MORE ABOUT VIRTUAL CLASSROOM COURSES. 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. He was a member of the Texas A&M Foundation Board of Trustees (2014-2021). (2), Gibraltar (6), United Kingdom (1), English (6), Panama - Off Shore Ms. Elliott has more than 25 years in senior-level corporate communications roles. We invested approximately $150 million organically in technology, data, and product development in addition to pursuing acquisitions that enhance our capabilities and will accelerate our speed to market in areas ranging from environmental, social and governance (ESG) and climate risk to financial crime, commercial real estate (CRE) and supply chain risk.In 2021, we rated over $6 trillion of issuance and served more than 1,100 issuers who accessed the markets for the first time. (2), Latvia Kenney currently serves on the Board of Governors for the New York Institute of Internal Auditors and Hetrick Martin Institute. Source: S&P Global Market Intelligence, as of July 30, 2021. (9), High Yield Interest A probability of default (PD) is already assigned to a specific risk measure, per guidance, and represents the percentage expectation to default, measured most frequently by assessing past dues. While 2021 was a year of challenges, it was also full of opportunities to invest and deliver for our customers. (2), Somalia By telephone from outside the United States: Modern Slavery and Human Trafficking Statement. Within financial markets, an asset's probability of default is the probability that the asset yields no return to its holder over its lifetime and the asset price goes to zero. All rights reserved. Prior to Cisco, Ms Hill had a number of engineering roles at various technology companies. Use semicolon to separate each address, limit to 20 addresses. 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