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Announcement:

Moody's Expands to Larger Premises in Dubai's DIFC

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

FURTHER INFORMATION:

Maya (Abdulrahim) Penrose

EMEA Rating Communications

Moody's Investors Service

Tel: +44 20 7772 5459

E-mail: maya.penrose@moodys.com

DIFC - Dubai
Jehad el-Nakla
General Manager
Moody's Middle East Ltd.
Moody's Middle East Ltd.
Telephone: +971-44-01-9536

London
Frederic Drevon
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
Gate Village 4, Level 3
P.O. Box 113355
DIFC - Dubai
UAE

Moody's Expands to Larger Premises in Dubai's DIFC
No Related Data.
© 2018 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.

CREDIT RATINGS ISSUED BY MOODY'S INVESTORS SERVICE, INC. AND ITS RATINGS AFFILIATES (“MIS”) ARE MOODY’S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MOODY’S PUBLICATIONS MAY INCLUDE MOODY’S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MOODY’S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND MOODY’S OPINIONS INCLUDED IN MOODY’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MOODY’S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY’S ANALYTICS, INC. CREDIT RATINGS AND MOODY’S PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS AND MOODY’S PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. NEITHER CREDIT RATINGS NOR MOODY’S PUBLICATIONS COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MOODY’S ISSUES ITS CREDIT RATINGS AND PUBLISHES MOODY’S PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.

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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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MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.