Moody’s plans to raise ownership in MERIS Ratings

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* Moody’s (NYSE:MCO [https://seekingalpha.com/symbol/MCO]) plans to increase its ownership in MERIS Ratings, a domestic credit rating agency in Egypt.
* The terms of the transaction were not disclosed.
* The transaction [https://seekingalpha.com/pr/20209976-moody-s-to-increase-ownership-in-meris-ratings-deepening-presence-in-the-middle-east-and]extends the long-established partnership between the companies and deepens Moody’s presence in the Middle East and Africa. Following the transaction, MERIS will continue to operate as an independent affiliate of Moody’s while developing its own rating methodologies, issuing its own credit ratings, and maintaining a separate management team.

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