Moody's Corporation Increases Share Repurchase Authorization by $1 Billion
NEW YORK--(BUSINESS WIRE)-- On February 12, 2013, the Board of Directors of Moody's Corporation (NYS: MCO) authorized a new $1 billion share repurchase program. Moody's expects to commence repurchases under the new program following completion of the existing program, which had $677 million of share repurchase authority remaining as of December 31, 2012.
The company plans to repurchase shares systematically and opportunistically subject to available cash, market conditions and other ongoing capital allocation decisions. As a result, the company's share repurchase activity may vary from quarter to quarter.
ABOUT MOODY'S CORPORATION
Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody's Corporation (NYS: MCO) is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management. The Corporation, which reported revenue of $2.7 billion in 2012, employs approximately 6,800 people worldwide and maintains a presence in 28 countries. Further information is available at www.moodys.com.
KEYWORDS: United States North America New York
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