Moody's: Own The Tollbooth To The Capital Markets
Atlas Investment Partners LLC
Atlas Investment Partners LLC
Feb. 3, 2015, 2:50 AM
- Standard & Poor’s (NYSE:MHFI) has reached a $125M deal with Calpers to resolve a lawsuit stemming from losses the pension fund suffered after the housing market collapsed and formerly AAA-rated MBS defaulted.
- S&P is expected to announce the settlement today, in addition to its record $1.37B settlement with the DOJ over inflated ratings it gave prior to 2008.
- Fitch Ratings and Moody’s Investors Service (NYSE:MCO) were also named in the Calpers suit.
- Previously: S&P backs off from 'retaliation' claim (Feb. 02 2015)
Feb. 2, 2015, 1:52 AM
- The DOJ is investigating Moody's Investors Services (NYSE:MCO) over the inflated ratings it gave to shoddy mortgage bonds in the lead-up to the financial crisis, WSJ reports.
- However, it isn’t yet clear whether the probe will result in a lawsuit, as Justice Department lawyers are still in the early stages of their investigation.
- The probe comes as the S&P (NYSE:MHFI) nears a $1.37B settlement for similar alleged conduct.
Jan. 9, 2015, 5:35 PM
Dec. 17, 2014, 7:19 AM
- Moody's (NYSE:MCO) declares $0.34/share quarterly dividend, 21.4% increase from prior dividend of $0.28.
- Forward yield 1.47%
- Payable March 10; for shareholders of record Feb. 20; ex-div Feb. 18.
- The board authorized to repurchase additional $1B of common stock.
Dec. 12, 2014, 12:49 PM
- In a deal valued at nearly $2B, Hearst Corporation will purchase another 30% interest in Fitch Group from Fimalac, which will retain a 20% interest in the ratings agency.
- Hearst CEO Steven Swartz: "Strategically, Hearst continues to diversify into data and information-based companies while growing its world-class media assets."
- McGraw Hill Financial (MHFI -1.3%) remains lower on the session, but has perked up since the news hit. Moody's (MCO -1.7%) has added a bit as well, though the reaction is more subdued.
Oct. 24, 2014, 8:13 AM
- Moody's (NYSE:MCO) declares $0.28/share quarterly dividend, in line with previous.
- Forward yield 1.18%
- Payable Dec. 10; for shareholders of record Nov. 20; ex-div Nov. 18.
Oct. 24, 2014, 7:05 AM
- Moody's (NYSE:MCO): Q3 EPS of $0.97 beats by $0.07.
- Revenue of $816.1M (+15.7% Y/Y) beats by $28.92M.
Oct. 23, 2014, 5:30 PM
Sep. 30, 2014, 7:32 AM
- Full-year 2014 non-GAAP EPS is expected to be $3.95-$4.05, and excludes a $0.36 Q2 gain from Moody's (NYSE:MCO) acquiring a controlling interest in ICRA, Ltd. Full-year stock buybacks are now expected to be as much as $1.25B.
- The company is holding its investor day today, beginning at 8 ET. A presentation will be available then.
- In other news, Moody's agrees to acquire the remaining outstanding shares of Copal Amba. The purchase is not expected to have an impact on EPS this year and will be funded with international cash on hand.
Jul. 25, 2014, 9:04 AM
- Moody (NYSE:MCO) declares $0.28/share quarterly dividend, in line with previous.
- Forward yield 1.21%
- Payable Sept. 10; for shareholders of record Aug. 20; ex-div Aug. 18.
Jul. 25, 2014, 7:02 AM
- Moody's (NYSE:MCO): Q2 EPS of $1.12 beats by $0.11.
- Revenue of $873.5M (+15.5% Y/Y) beats by $72M.
Jul. 24, 2014, 5:30 PM
Jul. 9, 2014, 7:53 AM
Jun. 20, 2014, 7:12 AM
- Moody's (MCO) previously owned 28.5% of ICRA - the top provider of credit ratings and research in India. The total value of the deal is $86M and will be funded with cash on hand.
- Moody's first purchased a holding in ICRA in 1998.
Jun. 2, 2014, 3:27 PM
May 25, 2014, 5:54 AM
- McGraw Hill (MHFI) unit S&P and Moody's (MCO) must face a lawsuit from Calpers over ratings they gave on investments that led to losses of $800M.
- An appeals court affirmed a lower-court ruling from 2012 to reject the firms' request to dismiss the case.
- Calpers sued the agencies in 2009 after the collapse of three investment vehicles that were supported by sub-prime mortgages. The pension system had invested $1.3B.
- S&P is the subject of similar lawsuits from the Justice Department and individual states, including California.
Moody's Corp. provides credit ratings, research, tools and analysis to the global capital markets. The company operates through two business segments: Moody's Investors Service (MIS) and Moody's Analytics (MA). The Moody's Investors Service segment is a credit rating agency, which publishes... More
Industry: Business Services
Country: United States
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