S&P Capital IQ Risk Solutions today announced a deal to provide CreditPro to Russian bank, Ural Bank for Reconstruction and Development (UBRD).
The agreement allows UBRD to access S&P ratings, rating migrations, defaults and recovery database on more than 15,000 issuers, 130,000 securities, 150,000 structured finance tranches, and 140 sovereigns.
CreditPro enables credit professionals to monitor and analyse S&P credit ratings, as well as statistics on default and recovery. This helps institutions to assess probabilities of default and loss given default. Analysts can also explore credit rating migration and recovery trends, generate custom scenario analyses, and benchmark internal performance to industry-wide results.
"UBRD and our other clients use S&P's historical default data to assist in benchmarking internal performance against industry wide results, and assigning default probabilities to internal grading systems. This satisfies Basel II requirements requiring banks and other credit sensitive institutions to map their internal grades to a scale used by an external credit assessment institution," says Katarina Antens-Miller, Senior Director at S&P Capital IQ Risk Solutions.
Roslyakova Marina, Head of Risk Management at UBRD, says, "With years of experience, S&P Capital IQ Risk Solutions has developed models and solutions that enable organizations to build better quality approaches to managing economic capital and balancing resources, which offers many competitive advantages. CreditPro provides a precise definition of the threshold margin and cumulative default rate in ratings by industry. Ultimately, the platform will allow us to improve quality control in our portfolios and create a better internal rating system."