Moody’s revenues for the first 6 months were US$ 589.6 million, a decrease of 6%.  Operating income declined 22% to US$ 336. (including effect of Foreign Exchange impact).  Structured Finance was down32%, offset in part by an increase in corporate finance ratings of 11%.  Analytics were up by 6%, but with 32% of Moody’s total revenue was not able to make up the shortfall in Moody’s Investor Services. The effects of the credit crunch and the impact of new regulations have reduced margins to 39%. 

Outlook:  Moody’s management predicts full year revenue to decline by single digit rate and operating margins to come in at the mid-to-high-thirties percent range.  Source: Moody’s Press Release

BIIA Newsletter September 2009 Issue