"The 100 million default probability correlations for all pairs of companies covered in KRIS have been very popular among financial institutions of all types," said Dr. Donald R. van Deventer, Kamakura's Chairman and Chief Executive Officer. "From regional banks in the United States to hedge fund traders in Europe, geographical diversification and default correlation are key issues. The doubling of country coverage is a direct result of the warm response Kamakura has received from the first wave of KRIS global default probabilities. With the addition of 11 more countries, financial institutions have an even greater ability to measure, price, arbitrage and hedge global credit risk with KRIS and the Kamakura Risk Manager enterprise-wide risk management system."
The Kamakura Risk Information Service now includes default probabilities for public companies in 13 European countries: Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, Italy, the Netherlands, Norway, Sweden, and the United Kingdom. Coverage in the Asia-Pacific region incorporates public firms in Australia, Hong Kong, Japan, Malaysia, New Zealand, and Singapore. Kamakura's North American default probability service includes the U.S. and Canada. Kamakura confirmed today that it would continue to rapidly expand the country coverage of the KRIS default probability service.