Moody’s Corporation (NYSE:MCO) today announced that it has agreed to acquire Class y Asociados S.A. Clasificadora de Riesgo (S.A.) (Class), a leading credit rating agency serving Peru’s domestic bond market. The acquisition will extend Moody’s growing presence across Latin America and expand its Moody’s Local platform while reaffirming its support for the growth of capital markets in the region. Moody’s intends to integrate Class into Moody’s Local Peru.

“Peru’s dynamic domestic capital market is a priority for Moody’s as we continue to grow our presence across Latin America,” said Renzo Barbieri O’Hara, General Manager of Moody’s Local Peru. “With Class, we are excited by the opportunity to deepen our analytical capabilities to help further develop the Peruvian capital markets.”

Based in Lima, Class covers Peruvian corporates, municipalities, banks, insurance companies, and other financial institutions. Its team of analysts draws on years of experience working in Peru’s capital markets to provide market participants with valuable insights on credit risk.

Prior to the merger, Class will maintain separate operations, analytical staff, and credit rating processes. Once the integration is complete, Class’s ratings portfolio and its team of rating analysts will become part of Moody’s Local Peru.

Moody’s Local is a domestic credit ratings platform launched in 2019 to provide ratings and research to capital markets across Latin America. The platform combines tailored methodologies with experienced teams of local analysts to provide valuable insight. In addition to Peru, Moody’s Local operates in Argentina, Bolivia, Brazil, Panama, and Uruguay. For more information, visit https://www.moodyslocal.com.

The acquisition was approved by the Peruvian Superintendence of the Securities Market (Supertintendencia del Mercado de Valores - SMV). The acquisition will be funded with cash on hand and is not expected to have a material impact on Moody’s 2022 financial results.

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..

For Moody’s: SHIVANI KAK Investor Relations  +1 212-553-0298 Shivani.kak@moodys.com 

OR

JOE MIELENHAUSEN Communications +1 212-553-1461 joe.mielenhausen@moodys.com

OR

EDUARDO BARKER Communications (Latin America) +1 212-553-7717 Eduardo.Barker@moodys.com

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