Credit crisis puts a dent in Moody’s profits

Rating agency Moody’s has reported a decline in third-quarter income of around 13% year-on-year. This is despite an increase in revenue of 6% for the quarter.

A poor performance in the structured credit business, in particular a 52% decrease in RMBS revenue, was mainly to blame.

Moody’s chairman and CEO Raymond McDaniel said: “Based on expectations of continued weakness in the debt markets, we are revising our 2007 earnings guidance downward. We now expect full-year revenue to grow in the high-sin

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: