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


Equity Fund Assessment

Helps equity funds position themselves with market participants
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 a tool for comparison to measure historical performance relative to funds employing a similar investment strategy, as well as on the quality of the fund manager
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
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
Assigned on a scale from EF-1 to EF-5 (highest to lowest investment quality relative to funds with a similar investment strategy)
Monitored assessment made publically available on
Typical uses

Can be requested by equity funds seeking to position their investment quality relative to funds with a similar strategy

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

Note: The assessments are not opinions on prospective performance of a fund with respect to asset appreciation, volatility of net asset value or yield. They are not intended to be used to compare funds in different countries or even funds in the same country that are pursuing different investment strategies (e.g. balanced funds vs. equity funds). Available in Mexico, Argentina, and Brazil only