(RTTNews) - Moody's Corporation (MCO) has agreed to acquire a majority (51%) stake in Global Credit Rating Company Limited, a credit rating agency in Africa. The terms of the deal were not disclosed. The transaction is expected to close in second quarter 2022 and will not have a material impact on the company's 2022 financial results.
Rob Fauber, President & CEO of Moody's, said: "By combining GCR's successful domestic operations with Moody's global expertise, we have a unique opportunity to expand Moody's presence in a high-growth region."
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