WASHINGTON (dpa-AFX) - Moody's (MCO) said it intends to secure a majority equity stake in Middle East Rating & Investors Service or MERIS - an affiliate of Moody's, a domestic credit rating agency in Egypt. 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.
MERIS provides national scale credit ratings for a diverse range of sectors, including financial institutions, corporates, and structured finance transactions.
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