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07 Sep 2010
DIFC - Dubai, September 07, 2010 -- Moody's Investors Service has today announced that its Dubai-based
regional office, Moody's Middle East Limited, has moved to
permanent and larger premises within the Gate District of the Dubai International
Financial Centre (DIFC) in Dubai, United Arab Emirates. Moody's
Middle East Limited was first established in the DIFC in April 2007.
The move will allow Moody's to implement its near- and medium-term
expansion plans which are aimed at enhancing its ability to serve financial
market participants in the region.
"The move reflects Moody's continued commitment to its customers
in the Middle East," said Jehad El-Nakla, who
has been the General Manager of Moody's Middle East Ltd. since
November 2007. "As the global economy gradually emerges out of
recession, Middle Eastern market participants have started to return
to the global capital markets in order to address their financing needs.
Moody's is therefore anticipating a revival in regional demand for
ratings and intends to meet this demand with greater analytical resources
on the ground." Moody's has so far assigned more than 170
public ratings in the region.
"Overall, our DIFC-based office continues to provide a good
base from which to address regional demands for in-depth,
globally comparable credit analysis and ratings," stated Frederic
Drevon, Head of Moody's Europe, Middle East & Africa.
RECOGNITION OF MOODY'S WORK IN THE MIDDLE EAST
Over the past few years, Moody's has received several regionally
specific awards in recognition of its successful work in the Middle East.
For two consecutive years, Moody's has been voted "Best Islamic
Rating Agency" -- that is, best rating agency for Islamic finance
-- by the readers of Islamic Finance News in the publication's annual
polls conducted at the end of 2008 and 2009. The award confirms
Moody's expertise in Islamic Finance and recognises Moody's superior
ratings coverage of Islamic financial institutions and Sukuk transactions.
Moreover, in 2008, Moody's was also voted "Best
Rating Agency in the Middle East" by the readers of EuroWeek magazine.
Moody's continued involvement in regional developments in the capital
market is further underlined by its membership of the UAE-based
Gulf Bond & Sukuk Association (GBSA). Further afield,
Moody's is also an observer member of the Islamic Financial Services
Board (IFSB), an international standard-setting organisation
based in Malaysia.
For more information about Moody's activities in the Middle East,
please refer to www.MoodysMiddleEast.com.
ABOUT MOODY'S INVESTORS SERVICE:
Moody's Investors Service is a leading provider of credit ratings,
research and risk analysis. Moody's commitment and expertise
contributes to transparent and integrated financial markets. The
firm's ratings and analysis track debt covering more than 110 sovereign
nations, 12,000 corporate issuers, 25,000 public
finance issuers, and 106,000 structured finance obligations.
Moody's Investors Service is a subsidiary of Moody's Corporation (NYSE:
MCO), which reported revenue of $1.8 billion in 2009,
employs approximately 4,100 people worldwide and maintains a presence
in 26 countries. Further information is available at www.moodys.com
Maya (Abdulrahim) Penrose
EMEA Rating Communications
Moody's Investors Service
Tel: +44 20 7772 5459
DIFC - Dubai
Moody's Middle East Ltd.
Moody's Middle East Ltd.
MD - Regional Head EMEA
Europe, Middle East & Africa
Moody's Investors Service Ltd.
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Moody's Middle East Limited
Moody's Expands to Larger Premises in Dubai's DIFC
Gate Village 4, Level 3
P.O. Box 113355
DIFC - Dubai
No Related Data.
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Moody’s Investors Service, Inc., a wholly-owned credit rating agency subsidiary of Moody’s Corporation (“MCO”), hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by Moody’s Investors Service, Inc. have, prior to assignment of any rating, agreed to pay to Moody’s Investors Service, Inc. for appraisal and rating services rendered by it fees ranging from $1,500 to approximately $2,500,000. MCO and MIS also maintain policies and procedures to address the independence of MIS’s ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually at www.moodys.com
under the heading “Investor Relations — Corporate Governance — Director and Shareholder Affiliation Policy.”
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Additional terms for Japan only: Moody's Japan K.K. (“MJKK”) is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moody’s Overseas Holdings Inc., a wholly-owned subsidiary of MCO. Moody’s SF Japan K.K. (“MSFJ”) is a wholly-owned credit rating agency subsidiary of MJKK. MSFJ is not a Nationally Recognized Statistical Rating Organization (“NRSRO”). Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. 2 and 3 respectively.
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MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.