Moody's Investors Service is planning to release commentary this month that will qualify the difference between market trading levels and credit ratings of the bonds. David Munves¸ managing director in charge of credit strategy research, is in the process of moving from London to New York to lead the charge. He joined Moody's in December from Lehman Brothers in London, where he headed its European fixed-income index group and previously its European credit strategy group.
"For years we've received questions from the market on differences between prices and ratings, and this will provide some common language [on that topic]," said Dan Russell, managing director in Moody's investor services group. Munves said the commentary intends to provide interpretation of the market implied ratings data, which has compared trading levels to credit ratings for the last year or so, and was released to uncover patterns in differing credit views between Moody's and the market.
