February 18, 2021 09:10 PM Eastern Standard Time
NEW YORK--( BUSINESS WIRE ) --( BUSINESS WIRE )--Moody's Corporation (NYSE:MCO) today announced that the company has reached a final agreement on the acquisition of Cortera, a leading provider of credit data and workflow solutions in North America protocol. The acquisition can strengthen Moody's comprehensive risk assessment capabilities and significantly expand its coverage in the field of small and medium enterprises (SME).
Cortera maintains one of the very comprehensive credit information databases, which contains data and analysis on more than 36 million companies. Cortera collects data from thousands of sources, then uses artificial intelligence to enhance the data, and provides analysis, reporting and monitoring services to help companies make informed decisions about their counterparties.
Stephen Tulenko, President of Moody's Analytics, said: "Cortera plays an important role in helping companies understand each other. Our customers will be able to use Cortera's extensive information on small businesses and use Moody's proprietary analysis tools to make better decisions. "
The acquisition of Cortera will enhance Moody’s extensive Orbis private company information database and strengthen its Know Your Customer (KYC), business loans and supply chain solutions.
Cortera Chief Executive Jim Swift said: "The combination of Moody's capabilities and Cortera's strong data and analysis on private companies in the United States will provide customers with deeper insights. This transaction will greatly enhance our influence and capabilities and enable us Able to respond to changing customer needs."
The acquisition is expected to be completed in the first quarter of 2021, provided that special closing conditions are met, including any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976. Full or terminated. Cortera will be integrated into the research, data and analysis business of Moody's Analytics (MA).
Paul Hastings LLP acted as Moody's legal counsel in the transaction. Raymond James & Associates and Morris, Manning & Martin, LLP acted as financial advisors and legal advisors to Cortera, respectively. The funding for this acquisition will come from available cash and is not expected to have a significant impact on Moody's 2021 financial results.
About Moody's
Moody's (NYSE: MCO) is a global risk assessment company that can assist organizations in making better decisions. Moody's data, analytical solutions and insights can help decision makers identify opportunities and manage risks in business dealings with other organizations. We believe that greater transparency, smarter decision-making and fair information channels are the path to common progress. Moody's has more than 11,400 employees in more than 40 countries and combines international business with local expertise and more than a century of financial market experience. For more information, please visit moodys.com/about.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
Certain statements in this press release are forward-looking statements based on the future expectations, plans and prospects of Moody's (the "Company") business and operations, and involve various risks and uncertainties. Such statements may include “believe”, “expect”, “anticipate”, “intend”, “plan”, “will”, “forecast”, “potential”, “continue”, “strategy”, “hope”, "Target", "Estimated", "Project", "Estimated", "Should", "May "" and similar expressions or words and their variations, convey the expected nature of events or results, and usually represent forward-looking statements. The forward-looking statements and other information in this press release were made on the date of press release, and the company has no obligation (and does not intend) to publicly supplement, update or modify the subsequent developments of the relevant statements, regardless of whether these supplements, updates or modifications are Caused by subsequent development, expected changes or other reasons, unless otherwise required by applicable laws and regulations. In view of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the company will give examples of certain factors, risks, and uncertainties that may cause actual results to differ from these forward-looking statements (which may be material). These factors, risks and uncertainties include, but are not limited to: the impact of the new crown epidemic on the volatility of financial markets in the United States and the world, the overall economic conditions and gross domestic production of the United States and the world, and the company's own operations and personnel. Many other factors may cause actual results to differ from Moody’s expectations, including: credit market turmoil or economic slowdown, which may affect the number of domestic and/or international capital market debt and other securities issuances; others may affect domestic and / Or global capital market debt and other securities issuance issues, including regulatory, credit quality issues, interest rate changes and other fluctuations in the financial market, such as Brexit and the transition of companies from the London Interbank Offered Rate (LIBOR) Uncertainty, etc.; the level of mergers and acquisitions in the United States and overseas; the uncertainty of the effects of measures taken by the United States and foreign governments on the credit market, international trade and economic policies and their potential related consequences, including those related to tariffs and trade barriers Consequences; market concerns that may affect our integrity or that may affect market integrity or independent credit institutions’ appraisals; the launch of other companies’ competitive products or technologies; pricing pressure from competitors or customers; new product development and The degree of success of global expansion; the impact of the "Nationally Recognized Rating Organization" (NRSRO) rules, the potential impact of new legislation and regulations in the United States, states, and localities; increased competition and regulatory requirements in the EU and other foreign jurisdictions Improved possibilities; with Moody's Investors Service) The litigation risks related to the opinions of the rating, as well as other litigation, government and regulatory procedures, investigations and inquiries that the company may be involved from time to time; the content of the defense standards in the US legislation has been revised, and the EU liability standards have been revised Regulations and systems that are unfavorable to credit rating agencies; clauses in EU regulations that increase procedural and substantive requirements for service pricing, and expand the scope of supervision to include non-EU ratings for regulatory purposes; the possibility of key employee turnover ; Failure or failure of the company’s operations and infrastructure; any vulnerability to cyber attacks or other cyber security issues; the results of the tax authorities’ inspection of the company’s global tax planning measures; if the company fails to comply with the jurisdiction where the company operates Regional foreign and US laws and regulations, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting bribery of government officials, may face criminal sanctions or civil compensation; mergers, acquisitions, or other company mergers, and the company The ability to successfully integrate these mergers and acquisitions; currency and exchange rate fluctuations; future cash flow levels; capital investment levels; and the decline in the demand for credit risk management tools from financial institutions. These factors, risks and uncertainties, as well as other risks and uncertainties, may cause Moody's actual results to differ materially from the estimates, expressions, expectations and expected or implied results in the forward-looking statements, and may be affected by the new crown at present or in the future. The outbreak of the epidemic worsened. These contents are included in the first part 1A ``risk factors'' of the Form 10-K annual report for the year ended December 31, 2019, the Form 10-Q quarterly report for the quarter ended March 31, 2020, and the company from time to time to U.S. Securities There are more detailed descriptions in other documents submitted by the Exchange or in the materials contained thereby. Shareholders and investors are reminded that the occurrence of the aforementioned factors, risks and uncertainties may cause the company’s actual performance to differ materially from those estimated, expressed, predicted, expected or implied in the forward-looking statements, which in turn may affect the company’s business. , Business performance and financial status bring significant negative impact. New factors may appear from time to time, however, the company cannot predict them, nor can it evaluate the potential impact of any new factors on the company. There are more detailed descriptions in the 10-Q quarterly report and other documents submitted by the company to the American Stock Exchange from time to time or in the materials contained thereby. Shareholders and investors are reminded that the occurrence of the aforementioned factors, risks and uncertainties may cause the company’s actual performance to differ materially from those estimated, expressed, predicted, expected or implied in the forward-looking statements, which in turn may affect the company’s business. , Business performance and financial status bring significant negative impact. New factors may appear from time to time, however, the company cannot predict them, nor can it evaluate the potential impact of any new factors on the company. There are more detailed descriptions in the 10-Q quarterly report and other documents submitted by the company to the American Stock Exchange from time to time or in the materials contained thereby. Shareholders and investors are reminded that the occurrence of the aforementioned factors, risks and uncertainties may cause the company’s actual performance to differ materially from those estimated, expressed, predicted, expected or implied in the forward-looking statements, which in turn may affect the company’s business. , Business performance and financial status bring significant negative impact. New factors may appear from time to time, however, the company cannot predict them, nor can it evaluate the potential impact of any new factors on the company. There are more detailed descriptions in the 10-Q quarterly report and other documents submitted by the company to the American Stock Exchange from time to time or in the materials contained thereby. Shareholders and investors are reminded that the occurrence of the aforementioned factors, risks and uncertainties may cause the company’s actual performance to differ materially from those estimated, expressed, predicted, expected or implied in the forward-looking statements, which in turn may affect the company’s business. , Business performance and financial status bring significant negative impact. New factors may appear from time to time, however, the company cannot predict them, nor can it evaluate the potential impact of any new factors on the company. There are more detailed descriptions in the 10-Q quarterly report and other documents submitted by the company to the American Stock Exchange from time to time or in the materials contained thereby. Shareholders and investors are reminded that the occurrence of the aforementioned factors, risks and uncertainties may cause the company’s actual performance to differ materially from those estimated, expressed, predicted, expected or implied in the forward-looking statements, which in turn may affect the company’s business. , Business performance and financial status bring significant negative impact. New factors may appear from time to time, however, the company cannot predict them, nor can it evaluate the potential impact of any new factors on the company. There are more detailed descriptions in the 10-Q quarterly report and other documents submitted by the company to the American Stock Exchange from time to time or in the materials contained thereby. Shareholders and investors are reminded that the occurrence of the aforementioned factors, risks and uncertainties may cause the company’s actual performance to differ materially from those estimated, expressed, predicted, expected or implied in the forward-looking statements, which in turn may affect the company’s business. , Business performance and financial status bring significant negative impact. New factors may appear from time to time, however, the company cannot predict them, nor can it evaluate the potential impact of any new factors on the company. There are more detailed descriptions in the 10-Q quarterly report and other documents submitted by the company to the American Stock Exchange from time to time or in the materials contained thereby. Shareholders and investors are reminded that the occurrence of the aforementioned factors, risks and uncertainties may cause the company’s actual performance to differ materially from those estimated, expressed, predicted, expected or implied in the forward-looking statements, which in turn may affect the company’s business. , Business performance and financial status bring significant negative impact. New factors may appear from time to time, however, the company cannot predict them, nor can it evaluate the potential impact of any new factors on the company.
Disclaimer: The original version of this announcement is the officially authorized version. The translation is only for the convenience of understanding. Please refer to the original text. The original text is the only legally valid version.
SHIVANI KAK
Investor Relations
+1 212-553-0298
Shivani.kak@moodys.com
or
JOE MIELENHAUSEN
Newsletter
+1 212-553-1461
joe.mielenhausen@moodys.com
