NEW YORK--(BUSINESS WIRE)--
Moody’s Corporation (NYSE:MCO) announced today that it has completed its
acquisition of the remaining shares of Copal Amba and now owns 100% of
the company. Moody’s announced on September 30 that it had agreed to
acquire the remaining minority stake in Copal Amba.
“We are continuing to expand Copal Amba’s capacity and capabilities to
meet the strong demand for high-quality outsourced financial research
and analytics,” said Linda S. Huber, Executive Vice President and Chief
Financial Officer of Moody's. “Moody’s is committed to building on Copal
Amba’s extensive expertise to advance our global efficiency while
continuing to grow Moody’s overall business.”
Copal Amba’s offshore research and analytics services support a wide
range of clients, from global financial institutions and Fortune 100
corporations to boutique investment banks and asset managers. It was
formed through Moody’s acquisitions of Copal Partners in 2011 and Amba
Investment Services in 2013. Copal Amba operates seven service delivery
centers and has approximately 2,500 staff worldwide.
The acquisition of the remaining shares in Copal Amba is not expected to
have an impact on Moody’s earnings per share (EPS) in 2014 and is
expected to be approximately $0.04 to $0.05 accretive to Moody’s EPS in
2015. Moody’s funded the acquisition from international cash on hand.
The terms of the transaction were not disclosed.
ABOUT MOODY’S CORPORATION
Moody's is an essential component of the global capital markets,
providing credit ratings, research, tools and analysis that contribute
to transparent and integrated financial markets. Moody's Corporation
(NYSE: MCO) is the parent company of Moody's Investors Service, which
provides credit ratings and research covering debt instruments and
securities, and Moody's Analytics, which offers leading-edge software,
advisory services and research for credit and economic analysis and
financial risk management. The Corporation, which reported revenue of
$3.0 billion in 2013, employs approximately 9,700 people worldwide and
maintains a presence in 33 countries. Further information is available
at www.moodys.com.
“Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995
Certain statements contained in this release are forward-looking
statements and are based on future expectations, plans and prospects for
Moody’s business and operations that involve a number of risks and
uncertainties. Moody’s outlook and other forward-looking statements in
this release are made as of December 8, 2014, and the Company disclaims
any duty to supplement, update or revise such statements on a
going-forward basis, whether as a result of subsequent developments,
changed expectations or otherwise. In connection with the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995, the
Company is identifying certain factors that could cause actual results
to differ, perhaps materially, from those indicated by these
forward-looking statements. Those factors, risks and uncertainties
include, but are not limited to, the current world-wide credit market
disruptions and economic slowdown, which is affecting and could continue
to affect the volume of debt and other securities issued in domestic
and/or global capital markets; other matters that could affect the
volume of debt and other securities issued in domestic and/or global
capital markets, including credit quality concerns, changes in interest
rates and other volatility in the financial markets; the level of merger
and acquisition activity in the US and abroad; the uncertain
effectiveness and possible collateral consequences of U.S. and foreign
government initiatives to respond to the current world-wide credit
disruptions and economic slowdown; concerns in the marketplace affecting
our credibility or otherwise affecting market perceptions of the
integrity or utility of independent agency ratings; the introduction of
competing products or technologies by other companies; pricing pressure
from competitors and/or customers; the level of success of new product
development and global expansion; the impact of regulation as an NRSRO,
the potential for new U.S., state and local legislation and regulations,
including provisions in the Dodd-Frank Wall Street Reform and Consumer
Protection Act and anticipated regulations resulting from that Act; the
potential for increased competition and regulation in the EU and other
foreign jurisdictions; exposure to litigation related to our rating
opinions, as well as any other litigation to which the Company may be
subject from time to time; provisions in the Dodd-Frank Act legislation
modifying the pleading standards, and EU regulations modifying the
liability standards, applicable to credit rating agencies in a manner
adverse to credit rating agencies; provisions of EU regulations imposing
additional procedural and substantive requirements on the pricing of
services; the possible loss of key employees; failures or malfunctions
of our operations and infrastructure; any vulnerabilities to cyber
threats or other cybersecurity concerns; the outcome of any review by
controlling tax authorities of the Company’s global tax planning
initiatives; the outcome of those legacy tax matters and legal
contingencies that relate to the Company, its predecessors and their
affiliated companies for which Moody’s has assumed portions of the
financial responsibility; the impact of mergers, acquisitions or other
business combinations and the ability of the Company to successfully
integrate acquired businesses; currency and foreign exchange volatility;
the levels of capital investments; a decline in the demand for credit
risk management tools by financial institutions; and other risk factors
as discussed in the Company’s annual report on Form 10-K for the year
ended December 31, 2013 and in other filings made by the Company from
time to time with the Securities and Exchange Commission.
Moody's Corporation
Michael Adler, 212-553-4667
Vice President
Corporate
Communications
michael.adler@moodys.com
or
Salli
Schwartz, 212-553-4862
Global Head of Investor Relations
sallilyn.schwartz@moodys.com
Source: Moody's Corporation