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For Immediate Release
Moody's KMV Hosts Third Annual Credit Practitioner Conference
-90% of Polled Conference Attendees Believe Current Credit Risk Issues Will Spread
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SAN FRANCISCO, September 26, 2007 - At this week's third annual Credit Practitioner Conference, hosted by Moody's KMV, 90% of polled delegates believed that current trade imbalances and liquidity issues in the United States will impact credit risk in other parts of the world. Despite this however, less than half said that their organizations had changed the way they managed credit risk as a result of recent market events.
The two day conference, held in Boston, was attended by more than 250 banking, insurance, corporate and investment management professionals from 16 countries. The conference brings together industry experts and many of the world's leading credit practitioners for two days of presentations, panels and discussions addressing the current state of credit markets.
Among other key findings from the conference survey:
- More than 40% of respondents felt that central banks could have better responded to the current liquidity crisis, thus mitigating its impact
- Nearly 60% of those surveyed believe that credit risk problems will surface initially in public firms, with the deterioration indicated first by changes in spreads or Moody's KMV EDFT (Expected Default Frequency) credit measures
Also at the conference Moody's KMV announced the launch of CreditRisk.net, a one-stop resource to aid global credit practitioners meeting the many challenges posed by the rapidly evolving credit markets. CreditRisk.net is a comprehensive tool providing credit insight and solutions, and includes expert commentary, current credit risk indices, business briefs, case studies on recent defaults, videocasts and more.
Geoff Fite, chief operating officer and head of Moody's KMV, commented, "Results from the survey highlight the fact that market participants anticipate future challenges ahead although many are still identifying the best way to respond to them. The tools Moody's KMV provides help financial institutions address these challenges in the most informed and intelligent way possible. We have also sponsored initiatives such as this conference and CreditRisk.net, to provide all credit practitioners with a means to stay informed of best practice around the world."
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