Jul. 11 at 12:02 AM
Fitch affirmed Moody’s long-term issuer default rating at 'BBB+' and revised its outlook to Positive from Stable, citing the company's leading position in global credit ratings, strong free cash flow generation, expanding scale, and disciplined financial policies. The agency also affirmed its short-term IDR and commercial paper ratings at 'F1'.
Fitch noted Moody’s ended 2025 with 1.7x EBITDA leverage, more than
$2 billion in cash, an undrawn revolving credit facility, and a
$1 billion commercial paper program. The agency said an upgrade is possible if the company continues growing while maintaining strong margins and cash flow. Fitch expects EBITDA margins to remain above 50% and leverage below 2.0x, supported by the highly profitable ratings business and Moody’s Analytics, whose recurring revenue now accounts for more than 40% of total sales.
$MCO