Moody's

Moody's

Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

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Latest Reports from Moody's
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Moody's downgrades PNB's long-term deposit ratings to Baa3; outlook remains negativeSep 28, 2021
......MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. 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 MOODY'S PRIOR WRITTEN CONSENT. MOODY'S 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......
Moody's downgrades MasMovil's CFR to B2 from B1; outlook stableSep 28, 2021
...Rating Action: Moody's downgrades MasMovil's CFR to B# from B#; outlook stable Global Credit Research - ## Sep #### Madrid, September ##, #### -- Moody's Investors Service ("Moody's") has today downgraded to B# from B# the corporate family...
Moody's downgrades InfraBuild to B3; ratings on review for further downgradeSep 28, 2021
......MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. 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 MOODY'S PRIOR WRITTEN CONSENT. MOODY'S 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......
Moody's affirms and upgrades ratings in 5 UK Non-conforming RMBS Eurosail dealsSep 28, 2021
...Rating Action: Moody's affirms and upgrades ratings in # UK Non-conforming RMBS Eurosail deals Global Credit Research - ## Sep #### London, ## September #### -- Moody's Investors Service, ("Moody's") has today upgraded the ratings of ## notes...
Government of China A1 stable: Update following change in forecastSep 28, 2021
......The credit profile of China (A# stable) is supported by very high economic and fiscal strength, and low external risk. Large savings and government support for the economy foster low financing cost. Risks stem from contingent liabilities at state-owned enterprises (SOEs) and regional and local governments (RLGs). The trade-offs between deleveraging and maintaining solid economic output and stable employment have become more stark given an ageing population, rising trade and geopolitical tensions, and the coronavirus shock......
Sinic Holdings (Group) Company Limited: Update following rating downgrade and review for further downgradeSep 28, 2021
......All ratios are based on adjusted financial data and incorporate Moody's global standard adjustments for non-financial corporations. Sources: Moody's Financial MetricsTM and Moody's Investors Service estimates......
Particle Investments S.a.r.l.: Update following change in outlook to positiveSep 28, 2021
......The B# corporate family rating (CFR) of Particle Investments S.a.r.l., the holding company for the automation software provider WebPros, is mainly supported by (#) WebPros' strong position in the niche market for web hosting control panels; (#) its strong renewal rates and limited churn; (#) the risks and costs for web hosting providers in changing control panels; and (#) the company's strong revenue and EBITDA growth following recurring product repricing in the ####-#### period. However, the credit quality of the company is primarily constrained by (#) its high Moody's- adjusted leverage of #.#x for the ## months that ended June ####; (#) the company's small addressable market; (#) its limited portfolio offering, mainly concentrated on two similar products; and (#) the reliance of its sales strategy on large web hosting partners......
Gansu Province Electric Power Invt. Gp.: New issuer - First-time assignment of Baa3 issuer ratingSep 28, 2021
......Gansu Province Electric Power Investment Group Co., Ltd.'s (Gansu Power) Baa# issuer rating combines the company's Baseline Credit Assessment (BCA) of ba# and a three-notch rating uplift, based on our assessment of Gansu Power's "high" likelihood of support from, and "high" level of dependence on, the Gansu provincial government and ultimately the Government of China (A# stable), in times of need. Gansu Power's ba# BCA highlights the company's market position in the province's power sector, diversified fuel mix and improving operating performance supported by favorable policies on renewables. However, the BCA is constrained by Gansu Power's lower average profit margin because of market-based power sales, its exposure to coal and the challenges in renewables operations. One of the key credit challenges is Gansu Power's weak financial metrics as a result of the company's large capital spending. Our assessment of a high likelihood of support reflects Gansu Power's strategic importance to the......
National Bank of Kuwait S.A.K.P.: Update to credit analysisSep 28, 2021
......National Bank of Kuwait S.A.K.P.'s (NBK) A# long-term deposit rating captures the bank's Baseline Credit Assessment (BCA) of a# and a two-notch uplift stemming from our assessment of a very high probability of support from the Government of Kuwait (A# stable), in case of need. This is driven by the bank's systemic importance with around ##% market share in Kuwait as a universal bank, and also based on the government's full guarantee for all bank deposits. The standalone BCA of a# reflects the bank's dominant domestic market position, underpinning its resilient core profitability that has been recovering in #### from the hit it took in #### due to the coronavirus pandemic. The bank's BCA also considers its growth prospects and robust financial fundamentals, including its consistently strong asset quality, adequate capitalisation and ample liquidity. These credit strengths are counterbalanced by certain concentration risks on both sides of the bank's balance sheet, including its limited geographical......
First Abu Dhabi Bank PJSC: Update to credit analysisSep 28, 2021
......First Abu Dhabi Bank PJSC's (FAB) Aa# long-term deposit rating incorporates a three- notch uplift from the bank's a# Baseline Credit Assessment (BCA). This uplift is based on our assessment of a very high likelihood of support from the Government of United Arab Emirates (Aa# stable) in case of need. FAB's a# BCA reflects its strong capitalisation, resilient profitability and very strong liquidity, supported by a dominant domestic franchise and strong ties with the Government of Abu Dhabi (Aa# stable). However, the bank's high borrower and funding concentrations, combined with high reliance on wholesale funding, moderate these strengths. Our assessment of a very high likelihood of government support for FAB in case of need reflects the UAE government's ##% ownership stake in FAB through Mubadala Investment Company's wholly owned subsidiaries, the bank's importance to the local financial system, the bank's designation as a D-SIB by the UAE Central Bank, and the UAE authorities' track record......
Moody's downgrades Yincheng's CFR to B3; outlook remains negative (Chinese)Sep 28, 2021
...Moody's Investors Service Hong Kong Ltd. ## ## () ### #### #### () ### #### #### Moody's Investors Service Hong Kong Ltd. ## ## () ### #### #### () ### #### #### Moody's Investors Service Hong Kong Ltd. ## ## () ###...
Moody's affirms ratings of Dalian Wanda Commercial Management and Wanda HK; outlook stable (Chinese)Sep 28, 2021
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Moody's downgrades Sinic to Caa2; reviews rating for further downgrade (Chinese)Sep 28, 2021
...Moody's Investors Service Hong Kong Ltd. ## ## () ### #### #### () ### #### #### Moody's Investors Service Hong Kong Ltd. ## ## () ### #### #### () ### #### #### Moody's Investors Service Hong Kong Ltd. ## ## () ###...
Moodys affirms A3/P-2 rating of WeBank; changes outlook to negative from stable (Chinese)Sep 28, 2021
...Moody's Investors Service Hong Kong Ltd. ## ## () ### #### #### () ### #### #### ­ Moody's Investors Service Hong Kong Ltd. ## ## () ### #### #### () ### #### #### Moody's Investors Service Hong Kong Ltd. ## ## () ###...
Moody's affirms Siam Commercial Bank's ratings following announced reorganization; outlook remains stableSep 28, 2021
......MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. 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 MOODY'S PRIOR WRITTEN CONSENT. MOODY'S 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......
Moody's affirms Helenbergh China's B2/B3 ratings; changes outlook to negativeSep 28, 2021
......MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. 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 MOODY'S PRIOR WRITTEN CONSENT. MOODY'S 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......
Moody's changes WebPros' outlook to positive from stable; first lien credit facilities upgraded to B2Sep 28, 2021
......MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. 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 MOODY'S PRIOR WRITTEN CONSENT. MOODY'S 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......
Moody's assigns A1 to TMFNL's EMTN drawdown (Japanese only)Sep 28, 2021
...Contact: VP-SCO ##-####-#### ##-####-#### ##-####-#### ##-####-#### [MJKK]Toyota Motor Finance (Netherlands) EMTN A# #,### #### # ## A# Toyota Motor Finance (Netherlands) B.V.TMFNL EMTN A# #### # ##...
Moody's affirms A3/P-2 ratings of WeBank; changes outlook to negative from stableSep 28, 2021
......MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. 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 MOODY'S PRIOR WRITTEN CONSENT. MOODY'S 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......
Moody's changes Eurasian Bank's outlook to stable; affirms ratingsSep 28, 2021
......MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. 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 MOODY'S PRIOR WRITTEN CONSENT. MOODY'S 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......