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Moody’s KMV/Banks are Getting Better Equipped to Assess Risk
[Click Here for Italian Translation]
Source: APCom
Date: October 27, 2004
Author: N/A
The Italian system is becoming a little bit better.
Milan, October 27 (APCom) - “The Italian system is getting a little bit better. The banks are improving their capacity to assess risk. But we are still in an embryonic phase,” stated David Wright, director for Central Europe of Moody’s KMV, a company controlled by Moody’s corporation that specializes in tools for the assessment of credit risk, during a presentation of its newest version of ‘RiskCalc’, a tool for assessing the default risk of non-listed small to medium sized companies.
During 2003, according to the analysis conducted by RiskCalc 3.1, the PMI who have defaulted have in fact dropped lately from 16,000 to 15,350. To the person who asked him if there were any tools that could AVERT a collapse like the one of ‘Parmalat’, Wright responded: “Parmalat was a case of fraud. I don’t think there is a type of model that would be able to assess this kind of conduct.”
RiskCalc 3.1 was developed for Italy in collaboration with SanPaolo Imi and Capitalia.
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