Moody’s to acquire majority equity stake in MERIS, terms undisclosed

Moody’s (MCO) announced that it intends to secure a majority equity stake in Middle East Rating & Investors Service, a domestic credit rating agency in Egypt. The transaction extends the long-established partnership between the companies and deepens Moody’s presence in the Middle East and Africa, reaffirming its commitment to contribute to the ongoing development of local capital markets across the globe. The transaction is subject to regulatory approvals. 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. The terms of the transaction were not disclosed.