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As demand continues to grow for independent analysis of sustainable financing frameworks, Moody’s is here to support you. Our market-innovating Second Party Opinions (SPOs) of green, social, sustainability and sustainability-linked bonds and loans bring clarity to the sustainability impact of financing frameworks and instruments and their alignment to market standards. SPOs help issuers communicate their sustainability objectives with key stakeholders, and may facilitate customers’ access to capital.

Click here to access all publicly available SPOs published since October 2022

Click here to a view a selection of SPOs published prior to October 2022

EXPLORE THE BENEFITS OF A

Bond Fund Rating

A helpful tool to inform investors about the credit quality of the fund’s portfolio
Support your finance strategy
May attract and access funding from responsible investors
Diversify and extend your investor base
May result in attractive funding costs, improved deal execution and increased subscription levels
Provides investors with the assurance of independent analysis, enhances asset gathering, differentiates a rated fund from a non-rated fund and meet investor rating requirements
Communicate your sustainability development and initiatives
Strengthen corporate sustainability initiatives
Demonstrate your project's contribution to sustainability, your commitment to innovation and sustainable development
Assess how proceeds of bonds and loans contribute and align to sustainability principles
The rating is an independent, monitored, third party opinion that provides transparency to management companies. A ratings scale which differentiates fund ratings from credit ratings through the use of a distinct set of rating symbols (e.g, Aa-bf)
Increase transparency with market participants
Allows you to clearly demonstrate a transaction’s sustainability value among investors, regulators and peers 
Provide visibility to investors and lenders on reporting of your instrument and financing framework
A comprehensive analysis associated with investing in a fund or a similar pooled investment vehicle
An independent fund review of the credit quality of the fund's assets. This is done by using the portfolio's weighted average life (WAL) as the key duration comparison for measuring the portfolio's expected credit loss profile and considers other factors such as fund manager quality or sponsor
Continuously monitored portfolios and a clearly defined scope primarily addressing the credit quality of the fund's underlying assets
FEATURES
Rating primarily reflects Moody's assessment of the creditworthiness of the assets held by the fund. Other risks, such as liquidity, operational, interest rate, currency and any other market risk, are excluded from the rating
Typical uses

Fund sponsors and investors

Analytical Coverage
For rated organizations, typically the lead analyst will conduct the RAS analysis
For unrated organizations, a lead analyst will be determined based on sector experience and analytical availability
RAS outcomes are determined by a RAS committee