By Rob Curran

Moody's Corp. posted a decline in fourth-quarter earnings and revenue as bond issuance was stymied by economic uncertainty and market fluctuations.

The New York credit-ratings and research firm said fourth-quarter earnings fell to $246 million, or $1.34 a share, from $427 million, or $2.28 a share, a year earlier. Excluding certain items, adjusted earnings were $1.60 a share.

Fourth-quarter revenue slipped 16% to $1.29 billion, as credit-ratings revenue was weighed down by a collapse in activity in the high-risk junk-bond and leveraged-loan markets. Revenue at the Moody's Analytics research unit rose 7% to $714 million.

Write to Rob Curran at rob.curran@wsj.com

(END) Dow Jones Newswires

January 31, 2023 07:45 ET (12:45 GMT)

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