2Q 2023 Investor Presentation
$ Millions
Public, Project and Infrastructure: Revenue and Issuance¹
Revenue2: Mix by Quarter
■Public Finance and Sovereign
■■ Project & Infrastructure Finance
$150
Issuance³: Mix by Quarter
■Long-Term Rated U.S. Muni Bonds ■Rated Global Project & Infrastructure Finance Bonds
$200
$100
$67
$69
$65
$65
$67
$77
$73
$48
$54
$ Billions
$150
$73
$65
$91
$93
$61
$76
$111
$59
$100
$77
$50
$50 $103
$103
$96
$63
$92
$92
$61
$53
$58
$81
$55
$44
$52
$54
$62
$91
$67
$40
$0
$0
T
2Q21
3Q21
4Q21
1Q22
2Q22
3Q22
4Q22
1Q23
2Q23
2Q21
3Q21
4Q21
1Q22
2Q22
3Q22
4Q22
1Q23
2Q23
Revenue 2: Mix by Year
■Public Finance and Sovereign
■Project & Infrastructure Finance
$600
$500
$ Millions
$400
$246
$277
$300
$188
$213
$224
$234
$174
$206
$200
$100
$202
$225
$218
$222
$250
$244
$185
$197
$0
2015
2016
2017
2018
2019
2020
2021
2022
1.
2.
Note: Debt issuance categories do not directly correspond to Moody's revenue categorization.
Total estimated market issuance, unless otherwise noted.
Historical data has been adjusted to conform with current information and excludes intercompany revenue.
3.
$ Billions
■Long-Term Rated U.S. Muni Bonds
Issuance 3: Mix by Year
■Rated Global Project & Infrastructure Finance Bonds
$800
$600
$321
$207
$266
$274
$243
$303
$400
$220
$200
$364
$408
$384
$413
$292
$339
$398
$328
$0
2015
2016
2017
2018
2019
2020
2021
2022
Sources: Moody's Corporation, Refinitiv, Thomson Reuters. Global Rated Project & Infrastructure Finance available starting in 2016 and represents Moody's rated issuance. Issuance figures are subject to amendment given
face amount variations that may occur following the reporting cycle.
Moody's
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2Q 2023 Investor Presentation
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