07 June 2004 17:17
Moody`s Becomes Majority Shareholder in Interfax Rating Agency
LONDON, June 7 /PRNewswire-FirstCall/ -- Moody's Investors Service announced today that it has taken a majority
stake in the Moscow-based Interfax Rating Agency.
Interfax is an affiliate of Interfax Information Services Group, the leading independent information services
provider in Russia and other Commonwealth of Independent States (CIS) countries.
The agreement takes effect immediately and the firm now will be called Moody's Interfax Rating Agency.
John Rutherfurd, Jr., Chairman and Chief Executive Officer of Moody's Corporation, said at the stock purchase
agreement signing ceremony in Moscow that, "Moody's entered into a relationship with Interfax Rating Agency
more than two years ago, which has benefited both firms. We are increasing our stake today to be in an even better
position in terms of providing the highest quality credit rating and research services available in the Russian
marketplace."
"The acquisition of a majority interest in Interfax Rating Agency by Moody's is an indication of Interfax
Rating Agency's high professional standards. The formation of such a serious alliance opens up new opportunities
for advancing the rating business both in Russia and in CIS countries," adds Mikhail Komissar, Chief Executive
Officer and Chairman, Interfax Information Services Group.
Three Moody's Investors Service executives have been nominated for election to the Moody's Interfax Rating
Agency board of directors: Chester Murray, Executive Vice President, International, Michael Foley, Senior Managing
Director, Europe, and Michel Madelain, Group Managing Director, Corporate Finance Group, Europe.
Moody's first entered into a strategic cooperation agreement with Interfax Rating Agency in October 2001. In
November 2003, the two firms entered into a joint venture when Moody's purchased approximately 20% of Interfax
Rating Agency shares.
Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit
opinions, research, and ratings on fixed- income securities, issuers of securities and other credit obligations.
Moody's is a subsidiary of Moody's Corporation , which employs nearly 2,300 employees in 18 countries and had
reported revenue of $1.2 billion in 2003. Additional information about the company is available at
http://www.moodys.com/.
Moody's Interfax Rating Agency, a member of the Interfax Information Services Group, specializes in the
assessment of credit risk in Russia. The agency rates financial institutions, regional administrations and non-
financial enterprises. Moody's Interfax Rating Agency bases its ratings on a domestic Russian rating scale. More
information on Moody's Interfax Rating Agency is available on the website http://rating.interfax.ru/. Moody's
Investors Service
CONTACT: Russia: Natasha Baskakova, PR Director of Interfax Information Services Group, +7095-250-3434; or New York:
Frances G. Laserson, Vice President, Corporate Communications of Moody's Investors Service, JOURNALISTS:
+1-212-553-0376, SUBSCRIBERS: +1-212-553-1653; or New York: Michael Courtian, Vice President, Investor Relations of
Moody's Investors Service, JOURNALISTS: +1-212-553-0376, SUBSCRIBERS: +1-212-553-1653
Web site: http://www.moodys.com/ http://rating.interfax.ru/
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