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Accessibility for Ontarians with Disabilities Act, 2005


  • Moody’s Canada Inc. is committed to providing accessible customer service to our clients with disabilities in a way that respect their dignity and independence. Our objective is to comply with the customer service requirements of the Accessibility for Ontarians with Disabilities Act, 2005.

    A copy of our Accessible Customer Service Policy can be obtained by emailing colleen.tock@moodys.com.

Careers

View Open Positions at Moody’s Canada by clicking below.

Moody's Careers

Key Contacts

Donald Carter
Managing Director
+1-416-214-3851
Donald.Carter@moodys.com

Barbara Macpherson
Senior Vice-President
+1-416-214-3841
Barbara.Macpherson@moodys.com

Highlights
Moody's in Canada
High Yield
How to Get Rated
  • March 31, 2020

    Moody's changes TransCanada's and most subsidiaries outlooks to negative from stable, affirms ratings

    Moody's Investors Service, ("Moody's") affirmed the ratings of TransCanada PipeLines Limited (TransCanada), including its Baa1 senior unsecured and Issuer ratings, its Baa2 junior subordinate rating and Prime-2 short term rating for commercial paper. At the same time, Moody's affirmed TransCanada parent company TC Energy Corporation's (TC Energy) Baa2 Issuer rating. The outlook on both entities has been changed to negative from stable.
  • March 18, 2020

    Moody's places Air Canada's ratings under review for downgrade

    Moody's Investors Service, ("Moody's") has placed the ratings of Air Canada and its Pass Through Trust Certificates under review for downgrade, including its Ba1 Corporate Family Rating (CFR), Ba1- PD Probability of Default rating, Baa3 first lien senior secured rating and Ba2 senior unsecured rating. The company's Speculative Grade Liquidity rating remains unchanged at SGL-2. Moody's rates eight tranches of enhanced equipment trust certificates (EETCs) across three Air Canada EETC transactions, Series 2013-1, Series 2015-2 and Series 2017-1.
  • March 18, 2020

    Moody's places WestJet's ratings under review for downgrade

    Moody's Investors Service, ("Moody's") has placed the ratings of WestJet Airlines Ltd. ("WestJet") under review for downgrade including its Ba3 Corporate Family Rating (CFR), Ba3-PD Probability of Default rating, and Ba2 senior secured rating.
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Moody’s Investors Service has been providing Canada’s investors and issuers wit​h the highest quality rating service since 1901. Today, Moody’s rates more than 300 Canadian corporate, structured, and public finance issuers.

Moody’s Toronto-based analysts cover a variety of Industry sectors including financial institutions, media and telecommunications, oil and gas, power and gas utilities and pipelines, paper and forest products, sub-sovereign governments, project & infrastructure finance and structured finance.

Moody’s provides Canadian fixed income professionals with a variety of products and services, including credit analyses, regular analyst briefings, seminars and conferences. Moody’s experience — both locally and globally — means that products and services are tailored to meet its customers’ needs while at the same time ensuring internationally consistent ratings. ​​

This tab contains ratings and comprehensive research information regarding Canadian high yield issuers and Moody’s corporate speculative grade analysis.

Moody's covenant quality snapshots deliver succinct analysis of the strengths and weaknesses of a bond's protection package. The User’s Guide to Moody’s Covenant Quality Snapshots is intended to help readers of snapshots make full use of their summaries and analyses:
A User’s Guide to Moody’s Covenant Quality Snapshots
Moody’s Covenant Quality Snapshots for Canadian Issuers
Moody’s Pre-Closing Loan Covenant Quality Snapshots


Moody’s has analyzed and assessed the covenant quality of about one thousand bonds that were issued over the past two years globally. The following report includes a company-by-company comparison of Canadian high yield bonds’ covenant strength based on Moody’s Covenant Quality Assessments:
The Canadian High Yield Bond Market: Frequently Asked Questions
Canadian Corporations: Canadian High-Yield Bonds Continue to Offer More Protection Than US Issues
Canadian High-Yield Bonds Offer More Investor Protection Than US Bonds



The following report summarizes how Moody’s rates and analyzes nonfinancial speculative-grade issuers in the Canadian market:
High Yield Insights for Canadian Investors
 

Moody’s systematically monitors, assesses and reports on speculative-grade issuers’ liquidity through its Speculative-Grade Liquidity Ratings (SGL):
Speculative-Grade Liquidity Ratings: Component Scores Provide Liquidity Insight
  
Moody’s Speculative-Grade Liquidity ratings factor in four components of liquidity:

1. internal sources of cash
2. committed external sources of cash
3. ability to comply with covenants
4. other sources of liquidity, including the issuer’s ability to sell assets to raise cash

The list below provides the Component Scores of Moody’s Speculative-Grade Liquidity Ratings:
SGL Ratings & Component Score List   
 

 
At 1,000 defaults, Moody’s recoveries database highlights the importance of debt structure and the normalcy of the latest default cycle:
Moody's Ultimate Recovery Database


The primary rating methodologies for the application of Moody’s Loss Given Default (LGD) Methodology for non-financial companies:
Loss Given Default for Speculative-Grade Non-Financial Companies in the U.S., Canada and EMEA/Probability of Default Ratings and Loss Given Default Assessments for Low Rated Non-Financial Companies in the US, Canada and EMEA Region

Current rating news and relevant research items on corporate speculative grade analysis and Canadian corporate high yield issuers are available on the link below:
High Yield Research Reports

For more information, please reference the complete How to Get Rated.

For information on Moody's Ratings Symbols and Definitions, please visit Moody's Ratings Definitions.