moody's probability of default table 2021

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. Prior to Moodys, he held roles in alternative investments, corporate strategy & business development, and investment banking at Citi. CONTACT OUR EXPERTS solutions covering Global Economy, Sovereigns & Sub-Sovereigns Sectors & Portfolios Companies Macroeconomic scenarios Moody's Analytics The LGD of the obligor's exposures in the cell equals 1.0 minus the average of such prices expressed as a fraction of par; there is exactly one LGD for each default. (649), Infrastructure & Project Finance 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. from St. Johns University School of Law. She is also a key contributor to various Moodys diversity, equity and inclusion initiatives. He also served on the boards of ConvergEx Inc. from May 2007 to October 2013, Direct Line Insurance Group plc from April 2012 to October 2013 and WorldPay (Ship Midco Limited) from July 2011 to September 2013, and on the franchise board of Lloyds of London from September 2012 to May 2016.Mr. 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. Chief of StaffTameka Alsop is Managing Director, Chief of Staff to the CEO at Moodys Corporation and a member of the Executive Leadership Team. Throughout 2021, the global pandemic continued to impact Moodys employees, customers, stockholders and communities. As Vice Chairman and Chief Financial Officer, he was actively involved in the strategic transformation of Bank of New York from a diversified regional bank into a focused global securities servicer and asset manager. (6), Bosnia and Herzegovina METRICS AND TARGETS 10 SCOPE 2 GHG EMISSION REDUCTION 10. (2), Bolivia 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. Please reduce your list by using the filtering tool to the left. Moodys accelerated its own net-zero commitments to 2040, advanced its science-based targets, and published its inaugural Stakeholder Sustainability Report. Moody's returned $116 million to its stockholders via dividend payments during the fourth quarter of 2021. Senior Vice President &Corporate ControllerMs. Previously, Mr. Hogan held the role of EMEA Regional Controller from June 2013 to September 2016; and from July 2010 to June 2013, he held various senior roles within the Finance organization. He serves as a director of the Community Foundation of Brazos Valley where he served as Chairman from July 2013 to June 2014 and currently serves as the chairman of the Investment Committee.Mr. Head of Investor RelationsShivani Kak heads the Investor Relations Team and is responsible for managing effective communications with the analytical community, as well as existing and potential shareholders. The trailing 12-month global speculative grade corporate default rate held steady at 2.6%. 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. (2), Nepal He currently serves as President of the Moodys Foundation and is a member of the Board of Directors of BitSight Technologies, Inc. Prior to joining Moodys, Mr. Fauber served in several roles at Citigroup and its investment banking subsidiary Salomon Smith Barney from 1999 to 2005. Senior Vice PresidentChief Information OfficerMona Breed is the Chief Information Officer (CIO) of Moodys Corporation. And, we will ensure that Moodys is a place where the best talent wants to come and stay through investments in our people and our culture. 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. (2), Brunei Darussalam McDaniel began his career at the Company serving as a ratings analyst and served in numerous capacities at the Company over the past three decades. As a senior executive at JPMorgan, she played key roles in managing JPMorgans Asia and capital markets businesses through challenging financial climates. He also has a strong background in information systems and cyber-related matters. (6), Cayman Islands - Off Shore His substantive expertise extends to enterprise collaboration services, artificial intelligence and user experience. While 2021 was a year of challenges, it was also full of opportunities to invest and deliver for our customers. Passed Level II of the CFA Program (Feb 2022). (1), Regulation of Financial Institutions Ms Hill served in a number of positions at Cisco Systems, Inc. from 1997 to 2013, including, among others, Executive Advisor from 2011 to 2013, Senior Vice President, Development Strategy and Operations from 2009 to 2011, Senior Vice President, Access Networking and Services Group from 2008 to 2009 and Senior Vice President, Ethernet Systems and Wireless Technology Group from 2005 to 2008. 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. He is the chairman of the Board of Trustees of The Valley Health System and a member of the Board of Directors of the Quest Autism Foundation. Default Trends Global December 2022 Default Report - Excel Data, Credit Conditions Global: 2023 Outlook - Ten questions on what to watch in global debt markets, Default Trends Global: December 2022 Default Report, System Energy Resources, Inc.: Entergy's regulatory and financial risks increase with Louisiana regulator's motion to clarify subsidiary's refunds, Structured Finance - Global: November 2022 structured rating transitions ( Jan 2009 - Nov 2022) - Excel supplement, Structured Finance - Global: November 2022 structured rating transitions ( Jan 1993 - Nov 2022) - Excel supplement, Structured Finance: November 2022 structured rating transitions, Default Trends Global: Compendium of 2021 corporate defaults, Default Trends - Latin America & Caribbean: Latin American corporate default rate will rise gradually in 2023 as growth stalls, Grupo Aval Acciones y Valores S.A.: Update to credit analysis. Over the first half of 2021, Moody's repurchased 1.6 million shares at a total cost of $503 million, or an average cost of $318.03 per share, and issued net 0.7 million shares as part of its employee stock-based compensation programs. in Statistics and Actuarial Science, both from the Wharton School at the University of Pennsylvania, and is a Fellow of the Society of Actuaries. Prior to becoming chief executive officer, he was the chief operating officer and held various additional roles. (2), Samoa (6), Guinea Default Report. Prior to that role, Ms. Sullivan supported the Global Wealth &Investment Management business from 2015 to 2017 in a variety of positions including Controller. (3), The Credit Cycle Turns (1), Idaho (2), San Marino 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. (2), Algeria The principal methodology used in these ratings was "Rental Vehicle Securitizations Methodology" published in October 2021 and available at https://ratings.moodys . Please reduce your list by using the filtering tool to the left. (975), Financial Institutions Prior to Cisco, Ms Hill had a number of engineering roles at various technology companies. To help address the emerging cyber risk segment, in 2021 Moodys invested and partnered with BitSight, a pioneer in cybersecurity ratings and analytics. (6), United Kingdom He also managed a global business with a presence in over 100 countries. (1), Utah 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. Already a Client? 2023 Moody's Investors Service, Inc., Moodys Analytics, Inc. and/or their affiliates and licensors. During his tenure, Mr. Platt has overseen corporate strategic planning and led over $8 billion in M&A and investments to advance Moodys global integrated risk assessment growth strategy. (2), Bahamas (2), South Africa (2), Bahamas - Off Shore Copyright 2023 Moody's Analytics, Inc. and/or its licensors and affiliates. And, as our customers increasingly seek to understand and quantify the risk of a cyber attack in their organizations and across their supply chains, we made a $250 million investment in BitSight, a leading provider of cyber security risk ratings.All of these initiatives translated into impressive financial performance and continued strong returns for our stockholders. Our commitment to environmental sustainability includes accelerating our net zero emissions target by ten years, from 2050 to 2040, consistently engaging in the ongoing global dialogue around ESG and climate disclosures, and executing on our public decarbonization plan.We are proud that our efforts led to recognition as a 2021 Global Compact LEAD company and an A List score from CDP, recognizing Moodys as one of a small number of high-performing companies that are leading actions to cut emissions, mitigate climate risks and develop the low-carbon economy. (7), Vietnam (6), Mercosur The rating scale used by Moody's is: Rating Scale of Moody . Mr. Forlenza served as BDs Chief Executive Officer from 2011 to January 2020 and President from 2009 to April 2017. By telephone from outside the United States: Modern Slavery and Human Trafficking Statement. (100), Other Studies 12/31/2021: 21.08: 28.68: 11/30/2022: 3.52-13.12: 12/31/2022-.51-18.13: Prior to her time at JPMorgan, Ms Esperdy started her banking career at Lehman Brothers. 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. in government and psychology from Georgetown University. DRA also publishes impairment and loss studies for structured finance sectors. 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. Global speculative-grade default rate to peak at 7.3% in March before declining to 4.7% at year-end, Number of defaults likely will fall over the course of 2021, as economies recover. (5), Growth: Macroeconomic outlook & insights on fiscal and monetary policies Her various executive roles at Cisco Systems, Inc. allow her to bring extensive leadership experience and a strong background in information technology and business operations to the Board. As a result of holding these positions, Mr. Van Saun brings financial expertise, management experience and experience managing a business in a highly regulated industry both in the U.S. and in Europe. (6), Denmark Once again, our employees powered through the pandemic, working together to support each other and our customers with passion and commitment. (6), Burkina Faso (1), New Jersey Mr. Fauber served as Vice PresidentCorporate Development from September 2005 to April 2009. (8), United States (1), US Late Credit Cycle Risks MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. (53), Jersey He currently serves as a member of Qualtrics board of directors.Having served as a senior executive of major technology and software companies, Mr. Serafin brings extensive digital and technology expertise as well as executive management experience. (1), Kansas Subscribers can access the report at: http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1258722. Credit Strategy and Standards Index of Reference Documents. In this role, Ms. Alsop leads a range of strategic and operational initiatives that are vital to the companys success. Additionally, DRA publishes analytical research reports on topics that are of interest to broader fixed-income markets community.. (1), California Moodys Analytics provides tools for the most crucial aspects of the expected loss impairment model, with robust solutions to aggregate data, calculate expected credit losses, and derive and report provisions. (1), Indiana (2), Guam The Moody's Analytics PD is an aggregation of all the sources of credit risk assessable for a given borrower. MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. (2), Zimbabwe I would like to acknowledge the many contributions of my fellow board members, and welcome Zig Serafin, CEO of Qualtrics, to the Moodys board. She also serves as the Senior Independent Director at National Grid plc (March 2014-present).Ms Esperdys extensive experience in global investment banking and financial markets provides her with strategic and financial expertise that is critical to overseeing the Companys strategies. Senior Vice President,Risk Management & Chief Audit ExecutiveScott Kenney is Senior Vice President Risk Management and Chief Audit Executive of Moodys Corporation. (2), Pakistan He has served as the Executive Vice President, Chief Financial Officer and Treasurer of Booz Allen Hamilton Holding Corporation (BAH), a business management consulting company, since 2016. (6), Czech Republic Ms. Elliott has more than 25 years in senior-level corporate communications roles. Prior to joining Moodys in 2021, Ms. Elliott was Executive Vice President-Worldwide Communications at Mastercard and Chief Communications Officer at S&P Global. 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