(BUSINESS
WIRE) -- 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 and business intelligence services to the financial and
corporate sectors. Its clients range from global financial institutions
and Fortune 100 corporations to boutique investment banks and asset
managers.
“Copal Amba has had strong momentum since its
formation and has expanded its penetration into the growing market for
outsourced financial research, analytics and business intelligence
services,” said Linda S. Huber, Executive Vice President and Chief
Financial Officer of Moody's.
The acquisition of the
remaining shares is not expected to have an impact on Moody’s earnings
per share in 2014 and will be funded from international cash on hand.
The terms of the transaction, which is expected to be finalized in Q4
2014, 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 9,500 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 for 2014 and other forward-looking
statements in this release are made as of September 30, 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.
Contacts
Michael Adler, 212-553-4667
Senior Vice President
Corporate Communications
michael.adler@moodys.com
or
Salli Schwartz, 212-553-4862
Global Head of Investor Relations
sallilyn.schwartz@moodys.com
Permalink: http://www.me-newswire.net/news/12272/en
No comments:
Post a Comment