Quantitative Finance Stack Exchange is a question and answer site for finance professionals and academics. Join them; it only takes a minute:

Sign up
Here's how it works:
  1. Anybody can ask a question
  2. Anybody can answer
  3. The best answers are voted up and rise to the top

I'm working with sovereign ratings at present. With regard to Moody's there are a few things unclear to me in their definitions. Both questions refer to the sovereign rating history in Bloomberg CSDR (Foreign Currency LT debt)

  1. What does a (P) prefix indicate? Example (taken from Cyprus): (P)Caa3, (P)B3 and (P)Ba3. It is not clear to me what this prefix indicates and I couldn't find any explanation in their methodolgy.

  2. What does the rating WR stand for?

share|improve this question
up vote 4 down vote accepted

(P) prefix : As a service to the market and typically at the request of an issuer, Moody's will assign a provisional rating when it is highly likely that the rating will become final after all documents are received, or an obligation is issued into the market. A provisional rating is denoted by placing a (P) in front of the rating. Such ratings may also be assigned to shelf registrations under SEC rule 415.

WR is the Rating withdrawn for reasons including: debt maturity, calls, puts, conversions, etc., or business reasons (e.g. change in the size of a debt issue), or the issuer defaults

share|improve this answer
So, if I understand correctly, "WR" indicates that at that point in time there is no rating for the respective country? – FreshRamen Mar 3 '14 at 15:01

Your Answer


By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.