News
Moody's Q3 Profits Spurred by Commercial Real Estate Transactions
November 2, 2015
Credit rating agency Moody's Q3 profits beat analysts' estimates powered by a jump in structured-debt transactions.
US commercial real estate transactions plus an increase in credit monitoring and surveillance topped the list of reasons for these gains, the company said.
Net income rose 7.6% to $231.6M, up from $215.2M a year ago. Revenues hit $834.9M, a 2% increase from $816.1M. Over the past year, Moody's stock price has risen 6%.
And there could be more good news ahead. Issuance of US securitized debt and covered bonds is expected to grow to $501B by year-end, marking double-digit growth for the fifth year in a row. [Bloomberg]
