Scores company Moody’s is making a unit to analysis and price personal credit score, the agency mentioned on Monday.
The unit shall be headed by Ana Arsov, who will coordinate analysis and ranking initiatives within the subject, Moody’s Traders Service mentioned in an announcement.
The worldwide personal credit score market, with greater than $1.3 trillion in property beneath administration, makes up about 12% of the options market, funding agency BlackRock mentioned in a latest report.
Personal credit score is basically owned by buy-and-hold buyers similar to pension funds, endowments, foundations and insurance coverage firms, the report mentioned.
“The speedy progress of the personal credit score market lately has launched new challenges and alternatives for buyers, who’re in search of contemporary evaluation from a trusted supply,” mentioned Moody’s president Michael West.
Moody’s mentioned Arsov may also be co-head of the worldwide Monetary Establishments Group together with Simon Harris.
The personal credit score group could have a workforce of greater than 50 analysts in numerous geographies wanting into personal credit score in establishments similar to enterprise growth firms, collateralized mortgage obligations, insurance coverage and asset administration firms.
Moody’s charges round $70 trillion of debt break up between its 4 main ranking teams: monetary establishments, company finance, structured finance and world public, mission and infrastructure finance.
(Reporting by Tatiana Bautzer; enhancing by Rod Nickel)
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