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 Upgrade Summary Today's noteworthy upgrades include: CF Industries (CF) upgraded to Positive at Susquehanna... ExlService (EXLS) upgraded to Buy from Neutral at BofA/Merrill... Fitbit (FIT) upgraded to Buy at BofA/Merrill... Forward Air (FWRD) upgraded to Outperform at Baird... HD Supply (HDS) upgraded to Positive from Neutral at Susquehanna... Hannover Re (HVRRY) upgraded to Overweight from Underweight at JPMorgan... Moody's (MCO) upgraded to Buy from Neutral at UBS... PRA Group (PRAA) upgraded to Strong Buy from Market Perform at Raymond James... Plum Creek Timber (PCL) upgraded to Outperform from Sector Perform at RBC Capital... Shire (SHPG) upgraded to Outperform from Market Perform at Leerink... Yandex (YNDX) upgraded to Overweight from Equal Weight at Morgan Stanley... Zayo Group (ZAYO) upgraded to Buy from Neutral at MoffettNathanson.