Market Implied RatingMoody’s Investors Service

MIR Bulk Downloads - Technical Specifications

Product Overview

Market Implied Ratings is a data, research, and analytics platform that presents differences in opinion about company

credit risk and relative value for 4,000 Moody's rated firms and 11,000 securities globally. Comparisons are provided

between Moody's ratings and ratings implied from the bond, equity, and credit default swaps markets, or from

accounting ratios.

Credit professionals use market implied ratings to:

■■ Screen for potential ratings changes

■■ Manage counter-party risk

■■ Search for relative value trading opportunities

■■ Conduct scenario analysis

■■ Perform peer group analysis on specific issuers

Products & Services

credit ratings ■ company analysis ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis ■

credit ratings ■ company analysis ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis

Region Daily Files Monthly FilesText File Name Zip Archive Text File Name Zip Archive

Global mir_global_daily.txt mir_global_daily.zip mir_global_monthly.txt mir_global_monthly.zipAmericas mir_americas_daily.txt mir_americas_daily.zip mir_americas_monthly.txt mir_americas_monthly.zipEMEA mir_emea_daily.txt mir_emea_daily.zip mir_emea_monthly.txt mir_emea_monthly.zipAsia mir_asia_daily.txt mir_asia_daily.zip mir_asia_monthly.txt mir_asia_monthly.zipJapan mir_japan_daily.txt mir_japan_daily.zip mir_japan_monthly.txt mir_japa_monthly.zip

I. Issuer-Level MIR DataDaily and monthly issuer-level downloads are available in five different regional slices. All files are available for download from

www.moodys.com/mir under the Bulk Data Downloads link. Global and Asia files are also available via Moody's FTP server.

Field Field Description Data Type

issr_num Moody's Issuer Number Long Integerdate Date Dateoutlook_cd Outlook Textsr_unsec_or_equiv_rtg Moody's Estimated Senior Unsecured or Equivalent Rating Textbnd_imp_rtg Bond-Implied Rating Texteqty_imp_rtg Equity-Implied Rating Textcds_imp_rtg Credit Default Swap-Implied Rating Textmdfp_imp_rtg Moody's Default Predictor-Implied Rating Textbnd_imp_gap Bond-Implied Gap Integereqty_imp_gap Equity-Implied Gap Integercds_imp_gap Credit Default Swap-Implied Gap Integermdfp_imp_gap Moody's Default Predictor-Implied Gap Integer

Text File and Zip Archive Names:

Table Structure for Daily and Monthly Issuer-Level Text Files:

File Specifications

MIR bulk data is available in Zip archives that contain comma-delimited text files. Specific information about the files and datais available in the following sections:

I. Issuer-Level MIR DataII. Debt-Level MIR DataIII. Mapping FilesIV. Median Credit Spreads

Access to these files requires the purchase of a MIR Bulk Data Downloads package. Please contact your Moody's sales repre-sentative or the Client Services Desk (1-212-553-1658 or 44.20.7772.5454) for more information.

opinion ■ data ■ market perspective ■ credit ratings ■ company analysis ■ opinion ■ data ■ market perspectiv

s ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis ■ opinion ■ data ■ market perspe

II. Debt-Level MIR Data

Daily and monthly debt-level downloads are available in two different regional slices. These files are available for download viaMoody's FTP server.

Region Daily Text File Name Monthly Text File Name Zip Archive*

Global mir_global_debt_daily.txt mir_global_debt_monthly.txt mir_global_debt.zipAsia mir_asia_debt_daily.txt mir_asia_debt_monthly.txt mir_asia_debt.zip

*The same Zip archive contains both the daily and monthly file

Field Field Description Data Type

mdy_debt_num Moody's Debt Number Long Integerdate Date Datemdy_debt_level_rtg Moody's Debt-Level Rating Textdebt_level_bnd_imp_rtg Bond-Implied Rating Textdebt_level_bnd_imp_gap Bond-Implied Gap Integer

Text File and Zip Archive Names:

Table Structure for Daily and Monthly Debt-Level Text Files:

credit ratings ■ company analysis ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis

III. Mapping Files

Mapping files provide descriptive information and identifiers for the issuers and debt covered in Market Implied Ratings. Thesefiles are available for download via Moody's FTP server and from www.moodys.com/mir under the Bulk Data Downloads link.

File Text File Name Zip Archive

Issuer ID Map mir_issr_idmap.txt mir_issr_idmap.zipDebt ID Map mir_debt_idmap.txt mir_debt_idmap.zipRating Rank Map rtg_rank.txt rtg_rank.zip

Field Field Description Data Type

issr_num Moody's Issuer Number Long Integerissr_nam Issuer Textmkmv_num Moody's KMV ID Textregion Region Textticker Ticker Textmdy_broad_ind Moody's Broad Industry Textmdy_spec_ind Moody's Specific Industry Text

Text File and Zip Archive Names:

Table Structure for Issuer ID Map:

credit ratings ■ company analysis ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis

s ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis ■ opinion ■ data ■ market perspe

Field Field Description Data Type

mdy_debt_num Moody's Debt Number Long Integerissr_num Moody's Issuer Number Long Integerdebt_id_dscp Debt ID type: CUSIP, ISIN, SEDOL Textdebt_id CUSIP, ISIN, or SEDOL (Displayed as CUS, ISI, or SED) Textdebt_type Debt Type (BONDS, DEBENTURES, NOTES, etc.) Textcoup_rate Coupon Rate Floating Pointmatr_dt Debt Maturity Date Dateface_amtm Debt Face Amount Floating Pointcurrency Currency Type Textface_us_amtm Original Face Value Amount (in US Dollars) Floating Point

Table Structure for Debt ID Map:

Field Field Description Data Type

rating Moody's Rating Textrank Numerical Rank for Moody's Rating Integer

Table Structure for Rating Rank Map:

s ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis ■ opinion ■ data ■ market perspe

credit ratings ■ company analysis ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis

IV. Median Credit Spreads Data

MIR Median Credit Spreads provide a quick, comprehensive view of bond spreads across Moody's rating categories. Userscan download Median Credit Spreads for Bonds over US Treasuries by maturity or by duration as well as Median CreditSpreads for bonds over LIBOR. These files are available for download via Moody's FTP server and from www.moodys.com/mirunder the Bulk Data Downloads link.

File Text File Name Zip Archive*

CDS Spreads by Rating Category mcs_cds.txtSpreads for Bonds Over LIBOR mcs_libor_mat.txtSpreads for Bonds Over US Treasuries by Maturity mcs_ustsy_dur.txtSpreads for Bonds Over US Treasuries by Maturity msc_ustsy_mat.txt

*Zip archive contains all four text files

Field Field Description Data Type

date Date DateMaturity Years to maturity IntegerAaa Spread for Aaa rated bonds Long IntegerAa1 Spread for Aa1 rated bonds Long IntegerAa2 Spread for Aa2 rated bonds Long IntegerAa3 Spread for Aa3 rated bonds Long IntegerA1 Spread for A1 rated bonds Long IntegerA2 Spread for A2 rated bonds Long IntegerA3 Spread for A3 rated bonds Long IntegerBaa1 Spread for Baa1 rated bonds Long IntegerBaa2 Spread for Baa2 rated bonds Long IntegerBaa3 Spread for Baa3 rated bonds Long IntegerBa1 Spread for Ba1 rated bonds Long IntegerBa2 Spread for Ba2 rated bonds Long IntegerBa3 Spread for Ba3 rated bonds Long IntegerB1 Spread for B1 rated bonds Long IntegerB2 Spread for B2 rated bonds Long IntegerB3 Spread for B3 rated bonds Long IntegerCaa_C Spread for Caa_C rated bonds Long Integer

Text File and Zip Archive Names:

Table Structure for mcs_csd.txt, mcs_libor_mat.txt, mcs_ustsy_mat.txt:

credit ratings ■ company analysis ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis

mir_mcs.zip

s ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis ■ opinion ■ data ■ market perspe

Field Field Description Data Type

date Date Dateduration Years to duration IntegerAaa Spread for Aaa rated bonds Long IntegerAa1 Spread for Aa1 rated bonds Long IntegerAa2 Spread for Aa2 rated bonds Long IntegerAa3 Spread for Aa3 rated bonds Long IntegerA1 Spread for A1 rated bonds Long IntegerA2 Spread for A2 rated bonds Long IntegerA3 Spread for A3 rated bonds Long IntegerBaa1 Spread for Baa1 rated bonds Long IntegerBaa2 Spread for Baa2 rated bonds Long IntegerBaa3 Spread for Baa3 rated bonds Long IntegerBa1 Spread for Ba1 rated bonds Long IntegerBa2 Spread for Ba2 rated bonds Long IntegerBa3 Spread for Ba3 rated bonds Long IntegerB1 Spread for B1 rated bonds Long IntegerB2 Spread for B2 rated bonds Long IntegerB3 Spread for B3 rated bonds Long IntegerCaa_C Spread for Caa_C rated bonds Long Integer

Table Structure for mcs_ustsy_dur.txt:

s ■ opinion ■ data ■ market perspective ■ credit ratings ■ company analysis ■ opinion ■ data ■ market perspe

For more information, please contact your sales representative or call:

+1-212-553-1658 in New York;+44-20-7771-5454 in London; or+81-3-5408-4100 in Tokyo.

SP2808/Feb. 2007