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In 2002, Moody’s Corporation acquired KMV, a leading provider of quantitative credit analysis tools to lenders, investors, and corporations. This acquisition expanded Moody’s Analytics credit risk management product offerings.

KMV - Part of Moody's Analytics 

Building upon the legacy of Kealhofer, McQuown, and Vasicek (KMV), Moody’s Analytics further pioneered the sophisticated application of modern financial theory and statistical analysis to manage credit risk more effectively. Our integrated solutions have enabled institutions to improve all aspects of their credit processes, from prospecting and underwriting to pricing, syndication, and securitization.

The Legacy of Moody’s KMV

Following the acquisition by Moody's, KMV was combined with our loan origination/single obligor business, formerly Moody's Risk Management Services, to form Moody's KMV. From inception, Moody's KMV helped investors, lenders, and corporations understand and adopt the most advanced methods and tools to measure and manage credit risk. Moody's KMV’s flagship solution, the EDF™ (Expected Default Frequency) credit measure, dramatically changed the way credit risk was measured throughout the world. Moody's RiskCalc™, a network of globally comparable private company models, similarly revolutionized the way in which middle-market credit was analyzed both by banks and in the structured finance markets. Moody's KMV pioneered Moody's LossCalc™, the first commercially available predictive model of loss given default (LGD), as well as economic capital solutions, such as RiskFrontier™. In 2007, Moody's KMV was combined with the other non-ratings businesses of Moody's Corporation to form Moody's Analytics.