Moody's Corp. Acquires Full Ownership Of Korea Investors Service

(RTTNews) - Moody's Corp. (MCO) announced that it has acquired full ownership of Korea Investors Service (KIS), a provider of domestic credit ratings in Korea.

The terms of the deal were not disclosed. It is not expected to have a significant impact on Moody's earnings per share for 2016 and will be funded from international cash on hand.

Founded in 1985, KIS serves the domestic capital markets in Korea with credit ratings, research and other services. KIS has been a majority-owned affiliate of Moody's Investors Service since 2001.

KIS Ratings will continue to operate as an independent affiliate of Moody's Investors Service. Mr. Jae-Hong Lee, Chief Executive Officer of KIS, will continue to lead the company.

Under the terms of the deal, Moody's will also gain a majority ownership stake in KIS Pricing, a majority-owned subsidiary of KIS and provider of pricing services and analytics for fixed income and other local securities.