穆迪在报告中指出，此次调整反映出法国政治不稳定"可能削弱政府应对重大政策挑战的能力"，包括高 企的预算赤字、不断攀升的债务水平以及持续上升的融资成本等因素，这些都可能导致主要财政指标恶 化速度超出预期。 （文章来源：新华财经） 新华财经巴黎10月25日电 国际信用评级机构穆迪于纽约时间24日晚间更新法国主权信用评级，至此， 三大主要评级机构本轮对法国的评估全部结束。不同于惠誉和标普此前均下调法国评级至"A+"，穆迪 选择维持法国" Aa3 "评级不变，但将评级展望由"稳定"下调至"负面"。该评级等级相当于惠誉、标普体 系中的" AA- "。 尽管此次调整出乎多数市场观察人士的预料，穆迪在报告中仍指出，法国的融资能力在高债务水平下保 持相对稳健，与英国（"Aa3"，展望"稳定"）等可比国家大体相当。 报告强调，法国此前推行的结构性改革成果面临被削弱的风险，尤其是2023年养老金改革的重要条款。 穆迪还警告称，如果政府无法通过有效控制支出或增加收入的预算方案，法国财政赤字规模将进一步扩 大且持续时间更长。 ...

（文章来源：新华社） 法国经济与财政部长罗兰·莱斯屈尔当天在一份声明中表示，穆迪的决定表明"法国绝对有必要在财政预 算上达成妥协"，政府将坚持实现2025年财政赤字占国内生产总值（GDP）5.4%的目标，并力争到2029 年将赤字比例降至GDP的3%以内。 国际货币基金组织15日发布的报告则显示，若政策不作调整，受公共债务利息支出显著上升影响，法国 财政赤字率预计将在2026年扩大至5.8%，2027年和2028年进一步扩大至6.2%，并在2029年和2030年维 持在约6.3%的水平。 目前，法国2026年度财政法案仍在国民议会审议。该法案将在为期约70天的讨论后，由议会两院投票表 决是否通过。 新华财经巴黎10月24日电（记者崔可欣）国际信用评级机构穆迪24日发布报告，维持法国主权信用Aa3 评级，但将评级展望从"稳定"下调至"负面"。 穆迪是近期第三家调整法国主权信用评级的主要国际评级机构。此前，惠誉和标准普尔均将法国主权信 用评级下调一级至"A+"，评级展望为"稳定"。 穆迪在报告中表示，下调评级展望反映法国机构和治理能力进一步削弱以及结构性改革出现倒退的风 险。报告认为法国"政治格局长期分裂"可能影 ...

新华社巴黎10月24日电（记者崔可欣）国际信用评级机构穆迪24日发布报告，维持法国主权信用Aa3评 级，但将评级展望从"稳定"下调至"负面"。 法国经济与财政部长罗兰·莱斯屈尔当天在一份声明中表示，穆迪的决定表明"法国绝对有必要在财政预 算上达成妥协"，政府将坚持实现2025年财政赤字占国内生产总值（GDP）5.4%的目标，并力争到2029 年将赤字比例降至GDP的3%以内。 国际货币基金组织15日发布的报告则显示，若政策不作调整，受公共债务利息支出显著上升影响，法国 财政赤字率预计将在2026年扩大至5.8%，2027年和2028年进一步扩大至6.2%，并在2029年和2030年维 持在约6.3%的水平。 目前，法国2026年度财政法案仍在国民议会审议。该法案将在为期约70天的讨论后，由议会两院投票表 决是否通过。（完） 穆迪是近期第三家调整法国主权信用评级的主要国际评级机构。此前，惠誉和标准普尔均将法国主权信 用评级下调一级至"A+"，评级展望为"稳定"。 穆迪在报告中表示，下调评级展望反映法国机构和治理能力进一步削弱以及结构性改革出现倒退的风 险。报告认为法国"政治格局长期分裂"可能影响国家机构正常运作 ...

据吉尔吉斯斯坦塔扎别克新闻网9月24日报道，欧亚开发银行报告指出，吉国债结构协调，规模整 体可控。截至2023年底，吉国债占GDP的比重降至49.5%，较2020年下降14.1个百分点。从结构看，吉 超过80%的国债由多边开发机构提供的贷款构成，这些贷款享有较长的宽限期和较低的利率。2024年5 月，国际信用评级机构穆迪上调吉主权信用评级，评级展望从"负面"调整为"稳定"。 （原标题：欧亚开发银行评估吉国家债务规模可控） ...

I had a buy rating for Moody’s Corporation (NYSE: MCO ) previously, as I thought the upside was still attractive in the next two years if it is able to meet consensus FY28 adj. EPSI’m a fundamental, valuation-driven investor with a strong focus on identifying businesses that have the potential to scale over time and unlock massive terminal value. My investment approach centers around understanding the core economics of a business—its competitive moat, unit economics, reinvestment runway, and management qual ...

I had a buy rating for Moody’s Corporation (NYSE: MCO ) previously, as I thought the upside was still attractive in the next two years if it is able to meet consensus FY28 adj. EPSI’m a fundamental, valuation-driven investor with a strong focus on identifying businesses that have the potential to scale over time and unlock massive terminal value. My investment approach centers around understanding the core economics of a business—its competitive moat, unit economics, reinvestment runway, and management qual ...

Financial Performance - Revenue for Q3 2025 reached $2,007 million, a 10.7% increase from $1,813 million in Q3 2024[16] - Operating income for Q3 2025 was $917 million, up 24.3% from $738 million in Q3 2024[16] - Net income attributable to Moody's for Q3 2025 was $646 million, representing a 21% increase compared to $534 million in Q3 2024[16] - Earnings per share (EPS) for Q3 2025 were $3.61, a 22.7% increase from $2.94 in Q3 2024[16] - Comprehensive income for the nine months ended September 30, 2025, was $1,951 million, compared to $1,728 million for the same period in 2024[19] - Net income for the nine months ended September 30, 2025, was $1,851 million, an increase from $1,664 million in 2024, representing a growth of 11.2%[24] - Total external revenue of $5,829 million for the nine months ended September 30, 2025, up from $5,416 million in the same period of 2024, representing a growth of 7.6%[52] - Adjusted Operating Income for the three months ended September 30, 2025, was $1,062 million, compared to $867 million for the same period in 2024, reflecting a year-over-year increase of 22.5%[127] Assets and Liabilities - Total assets as of September 30, 2025, were $15,415 million, slightly down from $15,505 million at the end of 2024[22] - Total liabilities decreased to $11,303 million from $11,778 million at the end of 2024, indicating improved financial health[22] - Cash and cash equivalents stood at $2,181 million, down from $2,408 million at the end of 2024[22] - Total shareholders' equity increased to $4,068 million as of September 30, 2024, up from $3,938 million at June 30, 2024, reflecting a growth of 3.3%[25] - As of September 30, 2025, total shareholders' equity stood at $4,112 million, an increase from $3,727 million at the end of 2024[35] - The company reported a total long-term debt of $7,168 million, with a carrying value of $6,983 million after adjustments for unamortized discounts and issuance costs[110] Cash Flow and Investments - Net cash provided by operating activities decreased to $2,043 million in 2025 from $2,164 million in 2024, a decline of 5.6%[24] - Cash flows from investing activities showed a net inflow of $44 million in 2025, a significant recovery compared to a net outflow of $875 million in 2024[24] - The company repurchased treasury shares amounting to $1,170 million in the nine months ended September 30, 2025, compared to $812 million in the same period of 2024[24] - Dividends paid in the nine months ended September 30, 2025, totaled $534 million, an increase from $465 million in 2024, marking a rise of 14.8%[24] Revenue Segmentation - Decision Solutions (DS) revenue for the third quarter of 2025 was $424 million, a 10.7% increase from $383 million in the third quarter of 2024[50] - Research and Insights (R&I) revenue increased to $252 million in Q3 2025 from $235 million in Q3 2024, reflecting a growth of 7.2%[50] - Data and Information (D&I) revenue rose to $233 million in Q3 2025, compared to $213 million in Q3 2024, marking a growth of 9.4%[50] - Corporate Finance (CFG) revenue for the third quarter of 2025 was $576 million, up from $515 million in the same quarter of 2024, an increase of 11.8%[51] - Total ratings revenue for the third quarter of 2025 was $1,091 million, a 12.0% increase from $974 million in Q3 2024[52] Restructuring and Efficiency - The company reported a restructuring charge of $21 million in Q3 2025, up from $6 million in Q3 2024, indicating ongoing adjustments in operations[16] - The Strategic and Operational Efficiency Restructuring Program is expected to yield annualized savings of $250 million to $300 million, with completion anticipated by the end of 2026[96] - Total restructuring expenses for the three months ended September 30, 2025, amounted to $21 million, while for the nine months, it was $81 million, leading to a cumulative expense of $126 million[97] Tax and Compliance - The effective tax rate (ETR) for the nine months ended September 30, 2025, was 24.2%, up from 23.5% in the same period of 2024, reflecting an increase of 0.7%[68] - The company paid $644 million in income taxes for the nine months ended September 30, 2025, compared to $391 million for the same period in 2024, indicating a significant increase of 65%[72] - The company expects to reverse $64 million in reserves for uncertain tax positions in the fourth quarter of 2025 due to a lapse of a statute of limitations[71] Employee and Stock Compensation - The company granted 0.1 million employee stock options with a weighted average grant date fair value of $163.59 per share during the first nine months of 2025[64] - Stock-based compensation expenses rose to $174 million in 2025 from $166 million in 2024, reflecting a growth of 4.8%[24] - The total number of employees decreased by 2% to 15,952 as of September 30, 2025, compared to 15,776 in the previous year[147] Market and Segment Insights - Moody's has two reportable segments: MA (Moody's Analytics) and MIS (Moody's Investors Service), focusing on integrated risk assessment solutions and credit ratings respectively[38] - Moody's Analytics (MA) external revenue increased by 9% to $909 million, driven by sustained demand for insurance and KYC offerings, as well as credit research products[146] - Moody's Investors Service (MIS) external revenue rose by 12% to $1,098 million, supported by strong investor demand and increased leveraged finance issuance[146]

NEW YORK--(BUSINESS WIRE)--Moody's Corporation (NYSE: MCO) has been named the #1 company in the 2026 Chartis RiskTech100® report, marking the firm's fourth straight year at the top of the ranking. The RiskTech100® is widely recognized as the go-to guide for risk and compliance technology providers, and Moody's consistent placement at the top of the list is a testament to its industry-leading solutions and unwavering dedication to its customers. Moody's continued leadership is driven by a clear. ...

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Core Insights - Moody's reported third-quarter 2025 adjusted earnings of $3.92 per share, exceeding the Zacks Consensus Estimate of $3.70, with a year-over-year growth of 22.1% [1][8] - The revenue for the quarter was $2.01 billion, surpassing the Zacks Consensus Estimate of $1.96 billion, and reflecting a 10.7% increase year over year [3][8] - The company's liquidity position remained strong, although operating expenses increased, presenting a challenge [1][3] Financial Performance - Net income attributable to Moody's was $646 million or $3.60 per share, up from $534 million or $2.93 per share in the prior-year quarter [2] - Total expenses rose to $1.09 billion, an increase of 1.4% year over year [3] - Adjusted operating income was $1.06 billion, marking a 22.5% increase year over year, with an adjusted operating margin of 52.9%, up from 47.8% a year ago [3] Segment Performance - Moody's Investors Service (MIS) revenues increased by 11.8% year over year to $1.10 billion, driven by strong performance across various finance sectors [4] - Moody's Analytics (MA) revenues rose 9.4% year over year to $909 million, supported by growth in Decision Solutions, Research and Insights, and Data & Information [4] Balance Sheet and Cash Flow - As of September 30, 2025, Moody's had total cash and short-term investments of $2.26 billion, down from $2.97 billion at the end of 2024 [5] - The company reported $7 billion in outstanding debt and $1.25 billion in additional borrowing capacity [5] Share Repurchase Program - In the quarter, Moody's repurchased 1 million shares at an average price of $503.66, with $398 million of share repurchase authorization remaining [6] - The board authorized an additional $4 billion in share repurchase authority with no expiration date [6] Updated Guidance - Moody's updated its 2025 guidance, expecting adjusted earnings of $14.50-$14.75 per share, up from the previous target of $13.50-$14.00 [9] - Revenue growth is projected in the high-single-digit percent range, an increase from the prior mid-single-digit range [9] - The adjusted operating margin is expected to be 51%, up from the previously mentioned 49-50% [10] Strategic Developments - Moody's announced plans to secure majority equity ownership in MERIS, enhancing its presence in the Middle East and Africa [12]