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Fitch Rates Moody's notes BBB+
Fitch Ratings said it assigned a BBB+ rating to Moody's Corp.'s planned issuance of senior unsecured notes.
The rating is consistent with Fitch’s ratings on Moody’s other senior unsecured notes.
The proceeds will fund a portion of Moody's acquisition of RMS, a provider of climate and natural disaster risk modeling services to the property and casualty (P&C) insurance and reinsurance industries.
“Fitch views the acquisition positively despite the full multiple, as RMS' risk assessment services are increasingly important to the P&C industry's ability to assess, price and manage risk and expand Moody's integrated risk-assessment capabilities in climate, cyber, commercial real estate and supply chain,” the agency said in a press release.
Moody's plans to finance the acquisition with a mix of cash on hand, $2.8 billion at June 30, 2021, and debt, although the composition was not disclosed.
The outlook is stable.
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