Moody's launches unpublished monitored loan rating service in the US.

New York, November 12, 2012 -- Moody's Investors Service has launched a new rating service for the U.S. loan market in the form of Moody's "Unpublished Monitored Loan Rating" (UMLR). This follows the successful introduction of the UMLR product in EMEA in 2011. Moody's has developed this product in response to market feedback about a growing market need for access to detailed credit analysis.

"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," says Andrew Harling, a Moody's senior vice president. "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."

Moody's UMLR product is primarily intended to meet the needs of the private companies in the syndicated leveraged loan market. The UMLR is comparable to our published ratings. Moody's collateralized loan obligation (CLO) methodology will treat these as being identical to Moody's published ratings and will further bolster the analysis of the published ratings of CLOs that hold the relevant loans. 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," says Harling. "The borrower company will provide details regarding the syndicate members to the dataroom provider who will coordinate access to the dataroom."

Subject to eligibility checks, participants will receive an invitation to enter the dataroom and, upon acceptance of Moody's standard "click-through" terms, will be granted access to Moody's UMLR(s) on the facilities of the company. Lenders wanting to access a UMLR should contact the borrower company directly for an invitation.

For further information regarding this announcement, please contact Andrew Harling, Senior Vice President - Global Product Management or Matthew Donohue, Vice President - Account Management.

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