moody ' s upgrade to the great and powerful research group :
as you may know , moody ' s has recently upgraded enron from baa 2 to baal .
we had been on watch for an upgrade for a while and after their intitial
credit meeting , they still had questions primarily related to our control of
market and credit risk . to that end , jeff mcmahon and tim despain had rick
buy , bill bradford and i meet with eight members of the moody ' s team . the
questions centered around policy and procedure in the wholesale businesses .
we discussed var , stress testing and potential credit exposure . to make a
long story short , subsequent to that meeting , they reconvened their committee
and announced the upgrade .
i want you to know how critical your contribution was to the discussion and
will continue to be as the bar gets raised . i am sure that next year they
will continue to be concerned with our risk management capabilities as well
as extensions of our current platform - tail risk , intra day risk ,
operational risk , and enterprise wide risk .
thank you for your efforts in supporting rac - it has tangible benefits .
ted
p . s . - there is still lots of interesting opportunities to extend the
paradigm
moody ' s upgrade
to the great and powerful research group :
as you may know , moody ' s has recently upgraded enron from baa 2 to baal .
we had been on watch for an upgrade for a while and after their intitial
credit meeting , they still had questions primarily related to our control of
market and credit risk . to that end , jeff mcmahon and tim despain had rick
buy , bill bradford and i meet with eight members of the moody ' s team . the
questions centered around policy and procedure in the wholesale businesses .
we discussed var , stress testing and potential credit exposure . to make a
long story short , subsequent to that meeting , they reconvened their committee
and announced the upgrade .
i want you to know how critical your contribution was to the discussion and
will continue to be as the bar gets raised . i am sure that next year they
will continue to be concerned with our risk management capabilities as well
as extensions of our current platform - tail risk , intra day risk ,
operational risk , and enterprise wide risk .
thank you for your efforts in supporting rac - it has tangible benefits .
ted
p . s . - there is still lots of interesting opportunities to extend the
paradigm