Moody's seeks comment on proposed updates to adjustments for operating leases and securitizations

New York, April 15, 2015 -- Moody's Investors Service is requesting comment from market participants on updates it is proposing to the standard adjustments it makes for operating leases and securitizations. The changes for operating leases represent a fundamental shift in how Moody's views the credit implications of operating leases. If adopted, they would affect the financial ratios of a large number of issuers. The proposed update for securitizations would provide greater clarity on when adjustments are made and affect very few issuers. These proposed updates would have no rating impact for the vast majority of companies globally. Rating changes that do occur would almost all be upgrades and concentrated in sectors that are lease-intensive such as retail, apparel, restaurants, shipping, airlines, and consumer services.

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