Moody's Increases MERIS Stake to Expand in the Middle East & Africa

Core Insights - Moody's Corp. plans to acquire a majority equity stake in Middle East Rating & Investors Service (MERIS), a domestic credit rating agency in Egypt, with deal terms undisclosed [1][3][7] Company Overview - MERIS, established in 2003, is a joint venture between Moody's and Egyptian consultancy FinBi, providing national-scale credit ratings across various sectors including financial institutions and structured finance [2][7] Strategic Rationale - The acquisition strengthens the partnership between Moody's and MERIS, enhancing Moody's presence in the Middle East and Africa, and supporting local capital market growth [3][4] - The deal is pending regulatory approvals, and MERIS will maintain its independence, including its own rating methodologies and management team [3][7] Management Commentary - Monica Merli, COO of Moody's Ratings, expressed enthusiasm about the strengthened relationship with MERIS, highlighting its importance in Egypt's domestic credit rating landscape [4] Recent Performance - Moody's shares have increased by 3.5% over the past six months, compared to a 10.6% growth in the industry [5]