Bloomberg has expanded the credit risk datasets on its Terminal with the addition of data from Credit Benchmark to support credit assessments and predictive models during market volatility for users.
The anonymised consensus data from Credit Benchmark includes risk views of large financial institutions globally. It will be available on the Terminal and for license alongside existing credit risk datasets and risk indicators on the system to assess the credit quality or risk of default of counterparties or companies.
With Credit Benchmark data on the Terminal, Bloomberg said it can also support risk management processes, loan and debt underwriting, portfolio optimisation, supply chain risk management, and aid investment idea generation.
“The broad coverage provided by Credit Benchmark will allow for easier credit assessment of non-rated companies, as well as provide a complementary point of information to existing analytics on the Bloomberg Terminal,” said Mark Flatman, global head of core product at Bloomberg. “As the data will be available in all of our workflow tools, it can easily be incorporated as an additional input to the decision process.”
The pandemic has increased demand for independent data for market participants as a means of additional reassurance to validate their own internal counterparty and credit risk assessment and to supplement data from external agencies.
“In the current market environment, our consensus view of credit quality has been a vital source of insight on where lenders see the biggest risks,” said Donal Smith, co-founder, and chairman at Credit Benchmark. “We’re excited to be working with Bloomberg to expand availability of this intelligence to additional market participants.”