Moody's Corporation
Moody's Corporation, often referred to as Moody's, is an American business and financial services company. It is the holding company for Moody's Ratings, an American credit rating agency, and Moody's, an American provider of financial analysis software and services.
Some of the key events about Moody's Corporation
- 1909Established as a financial analysis company, providing credit ratings and research for bonds
- 1909Began selling credit ratings, which some critics argue created conflicts of interest
- 1914Published the first Moody's Manual of Industrial Securities
- 1924Expanded ratings to cover nearly all of the US bond market
- 1962Acquired by Dun & Bradstreet, enhancing its financial information services
- 1975Recognized as a Nationally Recognized Statistical Rating Organization by the SEC
- 1975Shifted from investor-paid to issuer-paid model, raising concerns about rating objectivity
- 1998Introduced the Market Implied Ratings system, offering a new perspective on credit risk
- 2000Became an independent company again through a spinoff from Dun & Bradstreet
- 2001Failed to downgrade Enron's credit rating until days before its bankruptcy
- 2002Launched Moody's Analytics to provide risk management software and services
- 2007Expanded into ESG (Environmental, Social, and Governance) assessments
- 2007Assigned high ratings to mortgage-backed securities that later defaulted during the financial crisis
- 2008Faced criticism for role in the subprime mortgage crisis and subsequent global financial meltdown
- 2010Accused of inflating ratings of risky mortgage-backed securities in a U.S. government investigation
- 2011Downgraded U.S. credit rating from AAA to AA+, causing controversy and market turmoil
- 2013Settled with U.S. Justice Department for $864 million over pre-crisis mortgage ratings
- 2016Fined $864 million for contributing to the 2008 financial crisis through inaccurate ratings
- 2018Agreed to pay $16.25 million to settle SEC charges of internal control failures and rating symbol deficiencies
- 2019Acquired RiskFirst, enhancing its risk and financial analytics capabilities
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
Moody's Corporation Latest news
Popular
New Syrian leader reveals empty coffers as dollar hits 35,000 pounds
Lithuanian defense chief warns: Europe must pay its fair share for protection
Trump's unexpected trade strategy leaves world markets guessing what's next
Biden talks big money and future of women's health at White House meeting
Democrats push for last-minute changes to US immigration policy before 2025
Cyprus gets unexpected boost: Rating agency gives rare double upgrade
Cyprus credit rating jumps two levels up to A3 marking its first A-grade in over a decade. Countries debt reduction efforts and smart money-handling got noticed by top rating firm Moodys
How new tariff plans could reshape US relations with Latin American neighbors
Presidential candidate plans huge car taxes and trade restrictions with Latin American countries. Economic experts warn about possible recession risks for Mexicoʼs market