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Moody’s Corporation Q3 2012 Revenues Up 30%

Moody’s reported revenue of $688.5 million for the three months ended September 30, 2012, up 30% from $531.3 million for the third quarter of 2011.  Expenses for the third quarter of 2012 totaled $418.8 million, 25% higher than in the prior-year period.  Operating income for the quarter was $269.7 million, a 38% increase from $196.1 million for the same period ... Read More »

SMERA India Completes 18,000 SME Ratings

SMERA has recently completed its 18,000th rating.  SMERA was the first SME rating agency of India founded in 2005 with primary objective to provide Ratings that are comprehensive, transparent and reliable.  This would facilitate greater and easier flow of credit from the banking sector to MSMEs.   SMERA is a joint initiative by SIDBI (www.sidbi.com), Dun & Bradstreet Information Services India ... Read More »

New SME Rating Services Launched in India by CRISIL

Crisil announced the launch of Small and Medium Enterprise (SME) Fundamental Grading services for SMEs proposing to raise equity capital through listing on SME exchanges.  SMEs in 560 cities across the country carry CRISIL ratings.   CRISIL, one of India’s leading rating agencies (majority owned by S&P) reported consolidated revenues for the first nine month of 2012 of Rs 717 crore ... Read More »

Trouble Looms for S&P Down-Under

An Australian Federal Court Judge found S&P has misled and deceived investors when it awarded its highest credit rating to CPDOs whose value collapsed ahead of the financial crisis.  S&P now faces the prospect of further legal action in Australian courts over the rating of risky structured products after a litigation specialist said it would back a class action lawsuit.  ... Read More »

McGraw-Hill Companies: Consolidated Q3 2012 Revenues Up 2%

The McGraw-Hill Companies (NYSE: MHP) reported third quarter revenue of $1,953 million, an increase of 2% compared to the same period last year.  McGraw-Hill Financial reported a 15% increase and McGraw-Hill Education reported an 11% decline.  Net income from continuing operations decreased 14% to $314 million and diluted earnings per share decreased 9% to $1.10. McGraw-Hill Financial:  The large decline ... Read More »

Ratings Linkup between Dagong (China), Egan-Jones Ratings (USA) and RUS Rating JSC (Russia)

The Chinese Rating Agency Dagong announced that it was linking with United States and Russian partners to form an ‘independent’ rating group.  Dagong would set up a joint venture company, called Universal Credit Rating Group, with Egan-Jones Rating (EJR) and RusRating JSC.  According to the statement of Dagong the partners do not represent the interest of any particular country or ... Read More »

ICRA Poised to Offer Rating Services in Nepal

India’s rating major ICRA Limited (ICRA) is poised to offer credit rating services in Nepal following the grant of rating licence to its subsidiary ICRA Nepal Limited (ICRA Nepal) by the Securities Board of Nepal (SEBON). ICRA Nepal was incorporated in November 2011 as a subsidiary of ICRA, which has a 51 per cent equity holding in the company; the ... Read More »

Reserve Bank of India (RBI) has Approved SMERA as an Eligible External Credit Assessment Institution

The RBI has approved SMERA (SME Credit Rating Agency of India Ltd.) as an eligible External Credit Assessment Institution (ECAI) under the Basel norms. The RBI decided that banks may also use the ratings of the SMERA for the purpose of risk weighting their claims for capital adequacy purposes in addition to the existing five domestic credit rating agencies.  The ... Read More »

Sharp Contrasts in Growth of Analytics, Credit Information and Rating Services

We previously wrote that analytics and platforms are becoming key differentiators in business information services.  2011 and first half 2012 revenue growth figures of key players in credit information and rating services provide a stark contrast to those companies who do not have a substantial stake in analytics.   Analytical services are growing at a very healthy double digit rate. Consumer ... Read More »

Credit & Financial Information 2012 Market Size, Share, Forecast, and Trend Report

BIIA Co-founder member Outsell Inc. has issued its latest Credit & Financial Information 2012 Market Size, Share, Forecast, and Trend Report authored by Pooneh Fooladi, Outsell’s Director & Market Analyst This report provides an in-depth view of the Credit & Financial Information (C&F) marketplace, which we size at $52.6 billion for 2011, up 7.0% from 2010. We include detailed analysis of ... Read More »

Moody’s Analytics Expands Global Economic Scenarios for Stress Testing

Moody’s Analytics announced the global expansion of its Alternative Scenarios economic forecast service, which now covers 49 countries, representing more than 93% of world economic output. The economic forecasts include a baseline, or most likely outcome scenario, and six alternative economic scenarios covering both downside and upside risks. Portfolio managers and risk professionals use scenario analysis to understand and model ... Read More »

Moody’s Q2 Results 2012 Buoyed by Analytics

Moody’s reported revenue of $640.8 million for the three months ended June 30, 2012, up 6% from $605.2 million for the second quarter of 2011.  Operating income grew only by 3%. Global revenue for Moody’s Investors Service (MIS) for the second quarter of 2012 was $441.2 million, about flat to the prior-year period. Global revenue for Moody’s Analytics (MA) for ... Read More »

McGraw-Hill Companies Q2 Revenues Decreased by 1% – EPS Increased by 11% Driven by Cost Reduction

The McGraw-Hill Companies (NYSE: MHP) reported revenue of $1,547 million in the second quarter, a decrease of 1% compared to the same period last year, as a result of a 5% increase at McGraw-Hill Financial and a 12% decline at McGraw-Hill Education. Net income from continuing operations increased 2% to $216 million and diluted earnings per share increased 11% to ... Read More »

European Credit Rating Agency: A Global Institution Deemed to be a Better Alternative

The Bertelsmann Foundation released on April 18th 2012 at its Washington conference a blueprint for a new sovereign debt rating agency called INCRA. As part of that effort, Annette Heuser, the Foundation’s executive director, held talks in early June with representatives of the European institutions based in Brussels. One result of the discussions was the realization of a change in ... Read More »

Creditreform Germany 2011 Overall Annual Results Flat – Growth in Factoring Services

Creditreform Germany reported 2011 revenues of Euro 488 million slightly below the 2010 results of Euro 489 million.  Revenue distribution by services sectors were as follows:  Business information Euro 263 million versus 2010 revenues of Euro 260 million, up 1%.  Receivables management services were Euro 199 million versus Euro 197 million in the prior year, up 1%.  Revenues for other ... Read More »