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Moody’s Appoints Scott Kenney SVP

Moody’s Corporation announced that Scott Kenney has been appointed Senior Vice President and General Auditor of the Corporation.   Mr. Kenney will oversee the independent assessment of Moody’s governance, risk management and internal control processes. Mr. Kenney, who joins Moody’s from Deloitte’s Governance Regulatory and Risk Strategies practice, has more than 19 years of advisory experience in internal control design and ... Read More »

Moody’s to Acquire Equilibrium – Enters Peru

Moody’s Corporation announced that it has agreed to acquire Equilibrium, a leading provider of credit rating and research services in Peru and other countries in Latin America. Based in Peru, Equilibrium has operated since 1996. Following the acquisition, Equilibrium will continue to issue domestic ratings in Peru and Panama with an independent analytical and rating committee process. Renzo Barbieri will ... Read More »

Moody’s Names G V Mani as Chief Executive Officer of Copal Amba

Moody’s Corporation (NYSE:MCO) announced that it has named G V Mani as Chief Executive Officer of its Copal Amba unit. Copal Amba is a leading provider of offshore research and analytics services to the global financial and corporate sectors.  Mani will be responsible for providing strategic and operational leadership for Copal Amba. He will work with the senior management team ... Read More »

US Department of Justice (DOJ) Probes Moody’s Investors Service

Now that McGraw Hill Financial & S&P have settled with the US Department of Justice (DOJ)  shedding US$1.4 billion the DOJ is now turning screws on Moody’s.  However according to the Wall Street Journal DOJ officials in recent months have quietly met with multiple former executives of Moody’s Investors Service to discuss ratings of complex securities before the crisis, according to people ... Read More »

ICRA Rating India: Chairman P.K. Choudhury to Retire

PK Choudhury to Retire from ICRA, Board Names Arun Duggal as Chairman Designate The Board of Directors of ICRA Limited today notified the Stock Exchanges that Mr. Pranab Kumar Choudhury intends to retire from ICRA.  He will resign as Chairman of ICRA Limited, CEO of Group ICRA, and as Chairman of all related entities effective January 29, 2015. At its ... Read More »

Moody’s Corporation Q3 2014 Revenues Up 16%

Moody’s reported revenue of $816.1 million for the three months ended September 30, 2014, up 16% from $705.5 million for the third quarter of 2013. Operating expenses for the third quarter of 2014 totaled $466.4 million, a 13% increase from the prior-year period. Operating income for the quarter was $349.7 million, a 20% increase from $291.5 million for the same ... Read More »

Moody’s Raises Full-Year 2014 Guidance

Raising FY 2014 non-GAAP EPS guidance range to $3.95 to $4.05 Moody’s Corporation (NYSE:MCO) announced new full-year 2014 guidance. Full-year 2014 non-GAAP EPS guidance is now in the range of $3.95 to $4.05, which excludes a $0.36 gain resulting from Moody’s acquisition of a controlling interest in ICRA Ltd. in the second quarter of 2014. Moody’s non-GAAP EPS guidance includes ... Read More »

Moody’s to Acquire Full Ownership of Copal Amba

Moody’s Corporation (NYSE:MCO) announced today that it has agreed to acquire the remaining outstanding shares of Copal Amba.  Moody’s is currently a majority owner of Copal Amba, which was formed through the acquisitions of Copal Partners in 2011 and Amba Investment Services in 2013.  Copal Amba, a leader in the market for Knowledge Process Outsourcing (KPO), provides offshore research, analytics ... Read More »

Moody’s Corporation Second Quarter 2014 Revenues Up 16%

Moody’s reported revenue of $873.5 million for the three months ended June 30, 2014, up 16% from $756.0 million for the second quarter of 2013. Operating expenses for the second quarter of 2014 totaled $461.8 million, a 14% increase from the prior-year period.  Operating income for the quarter was $411.7 million, a 17% increase from $350.8 million for the same ... Read More »

Moody’s Secures Majority Equity Ownership Stake in ICRA

Moody’s Corporation (NYSE:MCO) announced that it has secured a majority equity ownership stake in ICRA Ltd., a leading provider of credit ratings and research in India, increasing its stake from 28.5% to over 50.0%. “The successful conclusion of our offer for a majority stake in ICRA will allow us to extend our strong ties as we work together to serve ... Read More »

Moody’s Corporation Q1 2014 Revenues Up 5%

Moody’s revenue of $767.2 million for the three months ended March 31, 2014 increased 5% from $731.8 million for the first quarter of 2013.  Operating expenses for the first quarter of 2014 totaled $434.2 million, a 4% decline from the prior-year period.  Operating income for the quarter was $333.0 million, a 19% increase from $280.4 million from the same period ... Read More »

Moody’s Announces Conditional Offer to Acquire Majority Interest in ICRA

Moody’s Corporation announced a conditional open offer to acquire up to 2,650,000 equity shares of ICRA Limited, a leading provider of credit ratings and research in India. The offer is conditional upon acquiring at least 2,149,101 equity shares, which would increase Moody’s ownership stake from 28.5% to just over 50.0%. Full acceptance of the offer would increase Moody’s ownership stake ... Read More »