NEW YORK–(BUSINESS WIRE\/ AETOSWire )– Moody\u2019s Corporation (NYSE:MCO)
\nannounced today that it has fully acquired Global Credit Rating Company Limited (GCR), a
\nleading domestic credit rating agency with operations spanning Africa. The announcement
\nfollows\u00a0Moody\u2019s 2022 acquisition of a majority stake in GCR, and expands Moody\u2019s investment
\nin Africa\u2019s domestic credit markets.
\n\u201cGCR provides investors with crucial insights and clarity into Africa\u2019s fast-growing domestic
\ncredit markets, which play an important role in economic development throughout the
\ncontinent,\u201d said Rob Fauber, President and Chief Executive Officer of Moody\u2019s. \u201cMoody\u2019s is
\nexcited to deepen our domestic ratings presence in Africa through a trusted name in GCR.\u201d
\n\u201cThe full acquisition of GCR by Moody\u2019s is an important milestone that will enable us to build
\non our deep local market insights and over a quarter century of growth across the African
\ncontinent,\u201d said Marc Joffe, Chief Executive of GCR. \u201cIt will also provide the opportunity to
\nfurther develop solutions that meet a range of customer needs, including credit ratings, credit risk
\nsolutions, and ESG capabilities.\u201d
\nGCR rates financial institutions, corporates, public sector issuers, and structured transactions
\nacross Africa, and maintains offices in South Africa, Nigeria, Senegal, Kenya, and Mauritius. It
\nwill continue to operate as an affiliate of Moody\u2019s \u2013 developing its own rating methodologies,
\nissuing its own credit ratings, and maintaining a separate management team.
\nThe terms of the transaction were not disclosed, and it will not have a material impact on
\nMoody\u2019s 2024 financial results.
\nAbout Moody\u2019s Corporation
\nIn a world shaped by increasingly interconnected risks, Moody\u2019s (NYSE: MCO) data, insights,
\nand innovative technologies help customers develop a holistic view of their world and unlock
\nopportunities. With a rich history of experience in global markets and a diverse workforce of
\napproximately 15,000 across more than 40 countries, Moody\u2019s gives customers the
\ncomprehensive perspective needed to act with confidence and thrive. Learn more at
\nmoodys.com.
\n\u201cSafe Harbor\u201d statement under the Private Securities Litigation Reform Act of 1995
\nCertain statements contained in this document are forward-looking statements and are based on
\nfuture expectations, plans and prospects for Moody\u2019s business and operations that involve a
\nnumber of risks and uncertainties. Such statements involve estimates, projections, goals,
\nforecasts, assumptions and uncertainties that could cause actual results or outcomes to differ<\/p>\n
materially from those contemplated, expressed, projected, anticipated or implied in the forward-
\nlooking statements. Stockholders and investors are cautioned not to place undue reliance on these
\nforward-looking statements. The forward-looking statements and other information in this
\ndocument are made as of the date hereof, and Moody\u2019s undertakes no obligation (nor does it
\nintend) to publicly supplement, update or revise such statements on a going-forward basis,
\nwhether as a result of subsequent developments, changed expectations or otherwise, except as
\nrequired by applicable law or regulation. In connection with the \u201csafe harbor\u201d provisions of the
\nPrivate Securities Litigation Reform Act of 1995, Moody\u2019s is identifying certain factors that
\ncould cause actual results to differ, perhaps materially, from those indicated by these forward-
\nlooking statements. These factors, risks and uncertainties include, but are not limited to: the
\nimpact of general economic conditions (including significant government debt and deficit levels,
\nand inflation and related monetary policy actions by governments in response to inflation) on
\nworldwide credit markets and on economic activity, including on the volume of mergers and
\nacquisitions, and their effects on the volume of debt and other securities issued in domestic
\nand\/or global capital markets; the uncertain effectiveness and possible collateral consequences of
\nU.S. and foreign government initiatives and monetary policy to respond to the current economic
\nclimate, including instability of financial institutions, credit quality concerns, and other potential
\nimpacts of volatility in financial and credit markets; the global impacts of the Russia – Ukraine
\nmilitary conflict and the military conflict in Israel and the surrounding areas on volatility in
\nworld financial markets, on general economic conditions and GDP in the U.S. and worldwide, on
\nglobal relations and on the Company's own operations and personnel; other matters that could
\naffect the volume of debt and other securities issued in domestic and\/or global capital markets,
\nincluding regulation, increased utilization of technologies that have the potential to intensify
\ncompetition and accelerate disruption and disintermediation in the financial services industry, as
\nwell as the number of issuances of securities without ratings or securities which are rated or
\nevaluated by non-traditional parties; the level of merger and acquisition activity in the U.S. and
\nabroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign
\ngovernment actions affecting credit markets, international trade and economic policy, including
\nthose related to tariffs, tax agreements and trade barriers; the impact of MIS\u2019s withdrawal of its
\ncredit ratings on countries or entities within countries and of Moody\u2019s no longer conducting
\ncommercial operations in countries where political instability warrants such actions; concerns in
\nthe marketplace affecting our credibility or otherwise affecting market perceptions of the
\nintegrity or utility of independent credit agency ratings; the introduction or development of
\ncompeting and\/or emerging technologies and products; pricing pressure from competitors and\/or
\ncustomers; the level of success of new product development and global expansion; the impact of
\nregulation as an NRSRO, the potential for new U.S., state and local legislation and regulations;
\nthe potential for increased competition and regulation in the jurisdictions in which we operate,
\nincluding the EU; exposure to litigation related to our rating opinions, as well as any other
\nlitigation, government and regulatory proceedings, investigations and inquiries to which
\nMoody\u2019s may be subject from time to time; provisions in U.S. legislation modifying the pleading
\nstandards and EU regulations modifying the liability standards applicable to credit rating
\nagencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing
\nadditional procedural and substantive requirements on the pricing of services and the expansion
\nof supervisory remit to include non-EU ratings used for regulatory purposes; uncertainty
\nregarding the future relationship between the U.S. and China; the possible loss of key employees
\nand the impact of the global labor environment; failures or malfunctions of our operations and<\/p>\n
infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the timing and
\neffectiveness of our restructuring programs, such as the 2022 – 2023 Geolocation Restructuring
\nProgram; currency and foreign exchange volatility; the outcome of any review by tax authorities
\nof Moody\u2019s global tax planning initiatives; exposure to potential criminal sanctions or civil
\nremedies if Moody\u2019s fails to comply with foreign and U.S. laws and regulations that are
\napplicable in the jurisdictions in which Moody\u2019s operates, including data protection and privacy
\nlaws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to
\ngovernment officials; the impact of mergers, acquisitions, such as our acquisition of RMS, or
\nother business combinations and the ability of Moody\u2019s to successfully integrate acquired
\nbusinesses; the level of future cash flows; the levels of capital investments; and a decline in the
\ndemand for credit risk management tools by financial institutions. These factors, risks and
\nuncertainties as well as other risks and uncertainties that could cause Moody\u2019s actual results to
\ndiffer materially from those contemplated, expressed, projected, anticipated or implied in the
\nforward-looking statements are described in greater detail under \u201cRisk Factors\u201d in Part I, Item
\n1A of Moody\u2019s annual report on Form 10-K for the year ended December 31, 2023, and in other
\nfilings made by the Company from time to time with the SEC or in materials incorporated herein
\nor therein. Stockholders and investors are cautioned that the occurrence of any of these factors,
\nrisks and uncertainties may cause the Company\u2019s actual results to differ materially from those
\ncontemplated, expressed, projected, anticipated or implied in the forward-looking statements,
\nwhich could have a material and adverse effect on the Company\u2019s business, results of operations
\nand financial condition. New factors may emerge from time to time, and it is not possible for the
\nCompany to predict new factors, nor can the Company assess the potential effect of any new
\nfactors on it. Forward-looking and other statements in this document may also address our
\ncorporate responsibility progress, plans, and goals (including sustainability and environmental
\nmatters), and the inclusion of such statements is not an indication that these contents are
\nnecessarily material to investors or required to be disclosed in the Company\u2019s filings with the
\nSecurities and Exchange Commission. In addition, historical, current, and forward-looking
\nsustainability-related statements may be based on standards for measuring progress that are still
\ndeveloping, internal controls and processes that continue to evolve, and assumptions that are
\nsubject to change in the future.
\nView source version on<\/p>\n
*Source: Contacts
\nFor Moody\u2019s Investor Relations:
\nShivani Kak
\nMoody\u2019s Corporation
\n+1 212-553-0298
\nShivani.Kak@moodys.com
\nFor Moody\u2019s Communications:<\/p>\n
Joe Mielenhausen
\nMoody\u2019s Corporation
\n+1 212-553-1461<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW YORK–(BUSINESS WIRE\/ AETOSWire )– Moody\u2019s Corporation (NYSE:MCO) announced today that it has fully acquired Global Credit Rating Company Limited (GCR), a leading domestic credit rating agency with operations spanning Africa. The announcement follows\u00a0Moody\u2019s 2022 acquisition of a majority stake in GCR, and expands Moody\u2019s investment in Africa\u2019s domestic credit markets. \u201cGCR provides investors with …<\/p>\n","protected":false},"author":1,"featured_media":8133,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-8130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"\n