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Rating Services

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 »

S&P Granted Permission to Access Government Documents

Things are looking up for S&P in its defense against the US$5bn lawsuit filed by the US Federal Government.   A California judge on Tuesday granted S&P permission to access federal documents from the days after S&P stripped the US of its AAA rating.  Documents related to a phone call that Mr. Geithner, then Secretary of the Treasury, placed to Terry McGraw, then ... Read More »

Kroll Bond Ratings Is Developing CMBS Surveillance Unit

Kroll Bond Rating Agency is developing a research business to monitor the performance of commercial mortgage-backed securities (CMBS), adding a recurring-revenue stream to its credit-rating division. The service will be funded by investors and provide monthly updates on the debt.  The research, which is expected to become available in June, will provide loan-level commentary and won’t include letter grades.  The ... Read More »

Fitch Group Acquires Business Monitor International

Fitch Group today announced it has acquired Business Monitor International (BMI), an independent provider of country risk and industry analysis specializing in emerging and frontier markets. Financial terms of the transaction were not disclosed. The addition of BMI strengthens and expands Fitch Group’s client offering in financial information services. Subscribers to BMI’s products include decision makers at multinationals, governments, academia, financial institutions, ... 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 »

Moody’s Q4 Revenues Up 3% – Full Year Up 9%

What a difference two quarters make.  Following a great first half the revenue growth in rating services has slowed significantly in the second half.  For 2014 Moody’s expects revenue growth to be in the mid-single digit range. Moody’s reported revenue of $779.2 million for the three months ended December 31, 2013, up 3% from $754.2 million for the fourth quarter ... Read More »

McGraw-Hill Financial Reports Q4 Revenue Growth of 2% – 2013 Full Year Revenue Up 10%

McGraw Hill Financial, Inc. reported fourth quarter 2013 revenue of $1.25 billion, an increase of 2% compared to the same period last year. Net income and diluted earnings per share from continuing operations were $173 million and $0.62, respectively. For the full year revenue increased 10% to $4.88 billion and net income and diluted earnings per share from continuing operations ... Read More »

S&P to Open CEE Operational Hub in Poland

Ratings agency Standard & Poor’s will open a CEE hub in Poland.  The Warsaw office will serve as a hub for S&P’s operations, serving financial markets across Central and Eastern Europe (CEE). Marcin Petrykowski S&P to Open CEE Operational Hub Poland has been appointed as the managing director of the new office as well as regional director for the CEE region. ... Read More »

NASDAQ, S&P on Prowl for Index Acquisitions

Nasdaq OMX Group (NDAQ) and S&P Dow Jones Indices are shopping for acquisitions to bolster their index offerings in what could be a sign of an imminent wave of consolidation for indexing space. Executives from both companies “told Reuters in recent interviews that they would be interested in looking at bidding on index businesses that come to market. Nasdaq now ... Read More »

S&P Capital IQ introduces QuantFeed and QuantLink for Singapore Exchange

S&P Capital IQ Real-Time Solutions, the global provider of innovative market data services, trading and infrastructure solutions, has continued the expansion of its Asia-Pacific offering:   Availability of its cornerstone QuantFEED and QuantLINK solutions to Singapore Exchange (SGX). S&P Capital IQ Real-Time Solutions is developing the breadth of its services in response to continued client demand for enhanced access to Asia-Pacific ... Read More »

Meet RATINGPLATFORM – An Initiative Supported by EACRA

RATINGPLATFORM has been created to provide a unique global platform for ratings and assessments from high-reputable qualified sources. It is an initiative supported by the European Association of Credit Rating Agencies (“EACRA”) and has therefore European roots. Given the international environment for CRAs, where new legislation is being implemented in several countries and regions, RATINGPLATFORM’s target is to provide guidance ... Read More »

Moody’s Corporation Elects Leslie F. Seidman to Board of Directors

Moody’s Corporation announced that it has elected Leslie F. Seidman to its board of directors, effective immediately.  Leslie will serve as a member of the board’s Audit, Governance & Compensation and MIS (Moody’s Investors Service) committees. Ms. Seidman, 51, brings nearly 30 years of leadership experience in the development of accounting and financial reporting standards and policies. As the immediate ... Read More »

EU Commission Workshop: Improving Credit Assessment and Information for SMEs in Europe to Facilitate Access to Finance for SME

The EU Commission had invited a diverse group of experts ranging from credit rating, credit information, banking, alternate finance, and capital market participants to discuss whether regulating credit scoring would facilitate access to finance for SMEs i.e. as a tool to advance lending. The workshop was well attended indicating intense interest in this topic.  There were eight BIIA members at ... Read More »

Moody’s Acquires Amba Investment Services

Acquisition bolsters Copal Partners to create a leading outsourcer to corporate finance, investment research and asset management customers Moody’s Corporation (NYSE:MCO) has acquired Amba Investment Services, a provider of investment research and quantitative analytics for global financial institutions. Amba will operate as part of Moody’s Analytics majority-owned subsidiary, Copal Partners. The acquisition will bolster the research and analytical capabilities offered ... Read More »

Standard & Poor’s Rating Services Appoints Neeraj Sahai President

McGraw Hill Financial (NYSE: MHFI) today announced that Neeraj Sahai, 56, has been appointed President of Standard & Poor’s Ratings Services, effective January 6, 2014. Mr. Sahai, currently the head of Citi’s Securities and Fund Services (SFS) business who also acts as chief fiduciary officer of Citigroup, succeeds Douglas Peterson, who became president and chief executive officer of McGraw Hill Financial on November 1. Source: McGraw Hill Financial Read More »