Which of the Following Statements Is True

Which of the following statements is true?

A) Moody's KMV Credit Monitor Model compares loans with the pay-off functions of swaps.
B) Moody's KMV Credit Monitor Model uses rating migrations data to calculate hypothetical loan values.
C) Moody's KMV Credit Monitor Model discriminates between two types of borrowers, i.e. borrowers that are likely to default and borrowers that are unlikely to default.
D) None of the listed options are correct.