Moody's To Buy Peru-based Equilibrium

(RTTNews) - Moody's Corp. (MCO), the parent company of rating agency Moody's Investors Service, said Thursday that it has agreed to buy Equilibrium, a provider of credit rating and research services in Peru and other countries in Latin America.

Based in Peru, Equilibrium has operated since 1996. Following the acquisition, Equilibrium will continue to issue domestic ratings in Peru and Panama with an independent analytical and rating committee process. Renzo Barbieri will continue to lead Equilibrium's operations following the acquisition.

Equilibrium's operations in El Salvador will not be acquired; the other terms of the deal were not disclosed.

Equilibrium and Moody's Investors Service have had a technical services agreement since 2007, through which Moody's has provided Equilibrium with technical support based on its globally recognized credit analysis techniques for companies, governments, financial institutions and structured finance.

The acquisition is expected to close in the second quarter of 2015. It is not expected to have an impact on Moody's earnings per share in 2015 and will be funded from a combination of US and international cash on hand.