Moody's extends comment period for proposed default-related ratings

By Angela McDaniels

Seattle, Feb. 23 - Moody's Investors Service said it extended the period during which people may comment on the agency's proposal to introduce loss-given-default ratings and probability-of-default ratings to March 31 from Feb. 28.

The probability-of-default ratings would be assigned only to the corporate family and would express Moody's opinion of the likelihood of the entity defaulting on any of its debt obligations, the agency said.

Loss-given-default ratings would be assigned to both the corporate family and its individual rated debt issues. They would be expressed as a percent of principal and accrued interest expected to lost at the resolution of the default.

Comments can be sent to the credit policy committee at cpc@moodys.com.

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