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For Immediate Release
[Click Here for Chinese Translation]
Moody's KMV Holds Thought Leadership Conference on Credit Risk in China
RiskAnalyst™ Simplified Chinese Version Officially Launched in China
BEIJING - July 19, 2006 - Moody's KMV, the world's leading provider of quantitative credit risk solutions to lenders, investors and corporations, today announced the China market launch of the Simplified Chinese version of RiskAnalyst™ at the Moody's KMV Credit Conference in Beijing. Keynote speakers included Andrew Huddart, President of Moody's KMV, Brian Ranson, Managing Director, Credit Strategies Group at Moody's KMV and Xiao Yuanqi, Deputy Director General of Banking Supervision Department II, at the China Banking Regulatory Commission. The speakers addressed senior officials and executives from the China Banking Regulatory Commission and major banks on credit risk management trends and best practices in China.
In China, regulatory and market forces are creating greater demand for increased accuracy and consistency in the credit decision-making process. Chinese institutions recognize the need to maintain robust internal rating systems that reflect their own experience and environment. With the launch of the Simplified Chinese version of RiskAnalyst, China's financial and non-financial institutions will be able to make lending decisions using internal ratings and analysis of financial statement data based on International Financial Reporting Standards, improving the speed, accuracy and consistency of internal rating systems.
"China's rapidly growing banking industry welcomes the knowledge and experience of global credit risk management experts such as Moody's KMV," said Mr. Xiao Yuanqi, Deputy Director General of Banking Supervision Department II, China Banking Regulatory Commission.
"We are building out our capabilities based on increased demand for our solutions in some of the world's highest growth markets," said Andrew Huddart, President of Moody's KMV. "Chinese banks and corporations are setting strict internal credit risk guidelines to move toward common standards applied in increasingly global markets. RiskAnalyst offers the first Simplified Chinese language tool backed by the leading edge analytics of Moody's KMV and ensures that firms in China can accurately and consistently make good credit decisions."
Since entering the China market in 2002, Moody's KMV has enjoyed fast and stable growth. Currently, Moody's KMV is serving many Chinese financial customers including large state-owned banks, nationwide joint-equity banks, regional commercial banks and insurance companies. Moody's KMV has established an office in Beijing and a technical service center in Shenzhen to provide support and training services for the Asia-Pacific market.
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