Moody's introduces unpublished rating service for U.S. loan market

By Marisa Wong

Madison, Wis., Nov. 13 - Moody's Investors Service said it has launched a new rating service for the U.S. loan market in the form of Moody's Unpublished Monitored Loan Rating (UMLR).

"The UMLR product provides a definitive analysis that is identical to published ratings, thereby delivering, upon the borrower's request, a rigorous and detailed credit analysis to loan market participants," said Andrew Harling, a Moody's senior vice president.

The New York-based credit rating and risk analysis company said this follows the introduction of the UMLR product in EMEA in 2011.

"The product has enjoyed a positive market reception in the European market and we are pleased to be able to offer it to the U.S. market," Harling said.

Moody's said the UMLR product, which is comparable to published ratings, is primarily intended to meet the needs of the private companies in the syndicated leveraged loan market.

A key feature of the UMLR is that Moody's will monitor and rate the credit quality of the company and facilities for the life of the loan and make it available to a company's existing and prospective loan syndicate members solely through an electronic dataroom platform.

"All existing and prospective syndicate members will be able to view Moody's detailed analysis on a particular company by accessing the platform," Harling said. "The borrower company will provide details regarding the syndicate members to the dataroom provider who will coordinate access to the dataroom."

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