Moody’s to Suspend Commercial Operations in Russia
March 05 2022 - 7:10AM
Business Wire
Moody’s Corporation (NYSE:MCO) announced today that it will
suspend commercial operations in Russia.
Moody’s will continue to support its employees in Russia. The
suspension covers both Moody’s Investors Service (MIS) and Moody’s
Analytics (MA) operations. Moody’s Investors Service will maintain
analytical coverage for existing ratings from outside Russia.
ABOUT MOODY’S CORPORATION
Moody’s (NYSE: MCO) is a global integrated risk assessment firm
that empowers organizations to make better decisions. Its data,
analytical solutions and insights help decision-makers identify
opportunities and manage the risks of doing business with others.
We believe that greater transparency, more informed decisions, and
fair access to information open the door to shared progress. With
over 13,000 employees in more than 40 countries, Moody’s combines
international presence with local expertise and over a century of
experience in financial markets. Learn more at
moodys.com/about.
“Safe Harbor” Statement under the Private Securities
Litigation Reform Act of 1995
Certain statements contained in this document are
forward-looking statements and are based on future expectations,
plans and prospects for Moody’s business and operations that
involve a number of risks and uncertainties. The forward-looking
statements in this document are made as of the date hereof, and
Moody’s disclaims any duty to supplement, update or revise such
statements on a going-forward basis, whether as a result of
subsequent developments, changed expectations or otherwise. In
connection with the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, Moody’s is identifying
certain factors that could cause actual results to differ, perhaps
materially, from those indicated by these forward-looking
statements. Those factors, risks and uncertainties include, but are
not limited to the global impact of the crisis in Ukraine on
volatility in the U.S. and world financial markets, on general
economic conditions and GDP in the U.S. and worldwide, and its
potential for further worldwide credit market disruptions and
economic slowdowns; the impact of COVID-19 on world financial
markets, on general economic conditions and on Moody’s own
operations and personnel; future worldwide credit market
disruptions or economic slowdowns, which could affect the volume of
debt and other securities issued in domestic and/or global capital
markets; other matters that could affect the volume of debt and
other securities issued in domestic and/or global capital markets,
including regulation, credit quality concerns, changes in interest
rates, inflation and other volatility in the financial markets such
as that due to Brexit and uncertainty as companies transition away
from LIBOR; the level of merger and acquisition activity in the
U.S. and abroad; the uncertain effectiveness and possible
collateral consequences of U.S. and foreign government actions
affecting credit markets, international trade and economic policy,
including those related to tariffs, tax agreements and trade
barriers; concerns in the marketplace affecting our credibility or
otherwise affecting market perceptions of the integrity or utility
of independent credit agency ratings; the introduction of competing
products or technologies by other companies; pricing pressure from
competitors and/or customers; the level of success of new product
development and global expansion; the impact of regulation as an
NRSRO, the potential for new U.S., state and local legislation and
regulations; the potential for increased competition and regulation
in the EU and other foreign jurisdictions; exposure to litigation
related to our rating opinions, as well as any other litigation,
government and regulatory proceedings, investigations and inquiries
to which Moody’s may be subject from time to time; provisions in
U.S. legislation modifying the pleading standards and EU
regulations modifying the liability standards, applicable to credit
rating agencies in a manner adverse to credit rating agencies;
provisions of EU regulations imposing additional procedural and
substantive requirements on the pricing of services and the
expansion of supervisory remit to include non-EU ratings used for
regulatory purposes; the possible loss of key employees; failures
or malfunctions of our operations and infrastructure; any
vulnerabilities to cyber threats or other cybersecurity concerns;
the outcome of any review by controlling tax authorities of Moody’s
global tax planning initiatives; exposure to potential criminal
sanctions or civil remedies if Moody’s fails to comply with foreign
and U.S. laws and regulations that are applicable in the
jurisdictions in which Moody’s operates, including data protection
and privacy laws, sanctions laws, anti-corruption laws, and local
laws prohibiting corrupt payments to government officials; the
impact of mergers, acquisitions, such as our acquisition of RMS, or
other business combinations and the ability of Moody’s to
successfully integrate acquired businesses; currency and foreign
exchange volatility; the level of future cash flows; the levels of
capital investments; and a decline in the demand for credit risk
management tools by financial institutions. These factors, risks
and uncertainties as well as other risks and uncertainties that
could cause Moody’s actual results to differ materially from those
contemplated, expressed, projected, anticipated or implied in the
forward-looking statements are described in greater detail under
“Risk Factors” in Part I, Item 1A of Moody’s annual report on Form
10-K for the year ended December 31, 2021, and in other filings
made by Moody’s from time to time with the SEC or in materials
incorporated herein or therein. Stockholders and investors are
cautioned that the occurrence of any of these factors, risks and
uncertainties may cause Moody’s actual results to differ materially
from those contemplated, expressed, projected, anticipated or
implied in the forward-looking statements, which could have a
material and adverse effect on Moody’s business, results of
operations and financial condition. New factors may emerge from
time to time, and it is not possible for Moody’s to predict new
factors, nor can Moody’s assess the potential effect of any new
factors on it. Forward-looking and other statements in this
document may also address our corporate responsibility progress,
plans, and goals (including sustainability and environmental
matters), and the inclusion of such statements is not an indication
that these contents are necessarily material to investors or
required to be disclosed in the Company’s filings with the
Securities and Exchange Commission. In addition, historical,
current, and forward-looking sustainability-related statements may
be based on standards for measuring progress that are still
developing, internal controls and processes that continue to
evolve, and assumptions that are subject to change in the
future.
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