Transcript
Introduction
Zack
I'm Zack Fuss, and today, we are breaking down Moody's Corporation. Moody's was founded by John Moody in 1909 with the idea of broadening access to credit information and codifying how people viewed credit statistics by producing manuals or stats related to bonds. In 2000, Moody's was spun off from Dun & Bradstreet as a separately traded public company. Today, it's nearly a $75 billion enterprise business, producing approximately $6 billion in revenue at 45% margins.
Moody's is one of a triumvirate of credit agencies alongside S&P Global and Fitch, which control 95% of the global credit ratings market. To break down Moody's, I'm joined by Brian Yacktman, the Founder and President of YCG Investments. During this conversation, we explore the business' origin story. We discuss how the financial crisis impacted the trajectory of the business and the role that credit ratings play in the broader investment ecosystem. We hope you enjoy this conversation on Moody's.