Moody’s MIR® (Market Implied Ratings)

Detect Early Warnings of Defaults and Downgrades from Market Information

Market signals can capture a view of credit quality sentiment for a given company, but this view is often blurred with the market’s general appetite for risk. It becomes difficult to gauge the true risk for individual companies in times of market stress. By disentangling isolated changes in risk for individual issuers from the noise of the general markets, MIR can help you to detect credit deterioration early and focus on the riskiest exposures.

MIR translates prices from the CDS, bond, loan and equity markets into standard Moody’s Investors Service ratings language. The MIR service compares the signals for a given company to market-wide measures, usually median credit spreads.

Credit professionals use MIR to screen for potential ratings changes, manage counter-party risk, search for relative value trading opportunities and perform peer group analysis on specific issuers.

The underlying data is also available via MIR Bulk Data Downloads, which provides access to the entire MIR database or a subset of the data for custom MIR analysis.