Moody's secures majority ownership stake in ICRA Moody’s announced that it has secured a majority equity ownership stake in ICRA Ltd., a leading provider of credit ratings and research in India, increasing its stake from 28.5% to over 50%. Based on current exchange rates, the total value of the transaction is approximately $86M. Moody’s will fund the offer from international cash on hand. The transaction is expected to close on or by June 30.
On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Amec Foster Wheeler (AMFW) initiated with an Underperform at Jefferies... Houghton Mifflin (HMHC) initiated with an Outperform at Wells Fargo... Moody's (MCO) initiated with a Buy at Argus... SPX FLOW (FLOW) initiated with a Buy at Stifel... Subsea 7 (SUBCY) initiated with an Underperform at Jefferies... Sysorex Global (SYRX) initiated with a Buy at B. Riley... Technip (TKPPY) initiated with a Buy at Jefferies.