NEW YORK -- Moody’s Corporation (NYSE:MCO) announced that it intends to secure a majority equity stake in Middle East Rating & Investors Service (MERIS - an affiliate of Moody’s), a domestic credit rating agency in Egypt. The transaction extends the long-established partnership between the companies and deepens Moody’s presence in the Middle East and Africa, reaffirming its commitment to contribute to the ongoing development of local capital markets across the globe.

“We are excited to strengthen our relationship with MERIS, which has been an important provider of domestic credit ratings in Egypt for over two decades,” said Monica Merli, Chief Operating Officer of Moody’s Ratings. “We look forward to further sharing Moody’s global best practices with MERIS as its experienced team and trusted local insights continue to serve market participants in Egypt.”

The transaction builds on a longstanding relationship between the two companies. Founded in 2003 as a joint venture between Moody‘s and FinBi, a local Egyptian consulting firm, MERIS is a pioneer in Egypt’s domestic capital markets. MERIS provides national scale credit ratings for a diverse range of sectors, including financial institutions, corporates, and structured finance transactions.

“Today marks an important milestone in MERIS’s history,” said Dr. Amr Hassanein, Managing Director and Founder of MERIS. “By deepening our association with Moody’s global network and leveraging its expertise alongside our established local presence, we can further enhance our offerings and contribute to the continued growth and development of Egypt’s financial markets.”

The transaction is subject to regulatory approvals. Following the transaction, MERIS will continue to operate as an independent affiliate of Moody’s while developing its own rating methodologies, issuing its own credit ratings, and maintaining a separate management team. The terms of the transaction were not disclosed.

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In a world shaped by increasingly interconnected risks, Moody’s (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 16,000 across more than 40 countries, Moody’s gives customers the comprehensive perspective needed to act with confidence and thrive. Learn more at moodys.com.

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