Friday, October 2, 2009
Moody's to bring its credit risk expertise to Kiva
Moody's Corpration, one of the world’s most respected and widely utilized sources for credit ratings, research and risk analysis, announced a new partnership to add it's credit risk expertise to Kiva.
Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. The Moody's Foundation is a charitable foundation established by Moody's Corporation. The Corporation employs approximately 3,900 people worldwide and maintains a presence in 27 countries.
Moody's is applying its experience in credit ratings and credit risk management to help Kiva's microfinance institution Field Partners enhance their lending practices and bring greater transparency to Kiva's online microfinance marketplace. Through a two-year $700,000 commitment consisting of in-kind services and direct financial support from the Moody's Foundation, Moody's will rate, pro bono, 20 Kiva MFI Field Partners, establish the Moody's Field Specialist Program to recruit local microfinance specialists, and train Kiva staff.
The Kiva-Moody’s partnership was recently recognized by the Clinton Global Initiative as a break-through innovation that harnesses the financial markets to address the global challenge of poverty.