Moody's launches new private placement rating service for U.S. market

By Lisa Kerner

Charlotte, N.C., Nov. 13 - Moody's Investors Service Ltd. announced the launch of a new rating service, the "Unpublished Monitored Private Placement Rating" (UMPPR), for the U.S. private placement market.

A key feature of the service is that Moody's "will monitor and rate the credit quality of a company and its private placement instruments for the lifetime of their issuance," a company news release said.

UMPPR will offer "a definitive analysis that is identical to published ratings."

The information will be made available by an issuer to its investors through an electronic data room platform.

The product is designed for companies that do not access the public securities markets "and wish to preserve the private nature of their corporate information," said senior vice president Andrew Harling.

Moody's said it developed the product in response to feedback from companies and investors.

UMPPR became available in the United States on Nov. 12.

The New York-based credit rating and risk analysis company has plans to launch UMPPR product internationally.

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