Sky Protocol becomes the first stablecoin protocol to receive ratings from both Moody's and S&P Global
Grand Cayman, Cayman Islands, October 7th / PRNewswire / -- Sky Frontier Foundation Today, it was announced that Moody's has assigned a rating to the issuer Sky Protocol B3, with a stable outlook. This is the first time Moody's has rated any stablecoin protocol. Following Standard & Poor's Global Ratings' recent verified B- rating, Sky Protocol is currently the only stablecoin protocol to have been officially rated by a major credit rating agency.
Moody's and S&P Global Ratings conducted independent processes, with their respective teams making assessments based on their own criteria. Ultimately, they reached independent judgments regarding the credit status of Sky Protocol. These two independent ratings enable institutional investors to use a mature credit rating system to evaluate Sky Protocol, a standard that no other stablecoin protocol currently meets.
Obtaining an official credit rating is part of Sky Protocol's broader strategy to expand Sky Reserves, and it also indicates that the operation and governance processes of this protocol have undergone in-depth review by independent and objective assessment institutions.
Moody's considers the scale of Sky Reserves to be a core factor in its assessment, and the foundation agrees with this view as well. Sky Governance has strengthened the Treasury Management Function of the protocol and has shifted towards Stage 2 buyback and reserves framework; under this framework, the protocol retains a portion of its net protocol income to build Sky Reserves to the minimum targets set by governance. Establishing these reserves takes time and remains a priority. Real-time indicators can be viewed at https :// financial.skyeco.com / capital / management.
Sky Frontier Foundation Head of Global Capital Markets Greg Feibus stated: "We appreciate the rigor demonstrated by Moody's in reviewing Sky Protocol and the independent assessments they provided. The value of independent credit ratings lies in the fact that they enable institutional investors to evaluate Sky using the frameworks they already employ in global markets. Having multiple independent assessments allows institutional investors to understand the credit status of Sky more clearly and comparably. We recognize the relevant considerations pointed out by Moody's and will continue to focus on supporting efforts to improve the level of Sky Reserves."
Which factors have Moody's and S&P Global identified as contributing to the improvement of Sky Protocol's credit quality? Sky Governance and Sky Frontier Foundation are currently evaluating these factors, and the subsequent steps will be announced as part of a roadmap in the near future. Achieving a higher capital ratio over time is the goal of Sky Governance, and the long-term vision of this initiative is to obtain an investment-grade rating.
For more information on Moody's ratings, please refer to the full report.
About Sky Ecosystem
Sky Protocol is a global capital allocation protocol that supports Sky Savings Rate as set by governance, and is backed by diversified collateral. Sky Agent Network is an independent network of capital allocators that compete to obtain USDS liquidity under the risk parameters set by governance, and deploy it into diversified strategies. The income generated from these deployments constitutes the source of revenue for Sky Protocol. Sky Governance sets an adjustable Sky Savings Rate, and this interest rate can be obtained through sUSDS. sUSDS is the world's largest stablecoin savings token. For more information, please visit skyeco.com.
Legal Statement and Forward-Looking Statements
Unless otherwise attributed, the analyses, feature descriptions, and opinions reflected in this press release are from Sky Frontier Foundation (“SFF” or “Foundation”). As of the date of publication, they constitute content based on judgment and may change without prior notice. They do not constitute legal advice, regulatory determinations, or guarantees of results, nor should they be regarded as a substitute for independent analysis or professional advice.
This press release is for general informational purposes only and does not constitute legal, financial, investment, tax, or other advice. No content in this press release is intended to constitute, or should be construed as, an offer, solicitation, or recommendation to buy or sell any tokens, securities, or other financial instruments. SFF is an independent entity that does not control Sky Protocol or its governance processes; decentralized governance decisions and protocol outcomes are not controlled by SFF. No statements in this press release should be construed as commitments made by the protocol community or governance.
This press release contains forward-looking statements that involve inherent uncertainties and do not guarantee future performance. Due to risks and factors beyond the control of SFF, including market fluctuations, regulatory changes, and decisions made through decentralized governance, actual results and events may differ significantly from those stated. Readers should be cautious and not rely excessively on these forward-looking statements. SFF also assumes no obligation to update these statements. All information is provided as is, without any form of warranty.
