Moody’s Corporation has acquired a 99% stake in Kasnic Credit Rating Indonesia, with the remaining 1% open for acquisition under Indonesian law.
Kasnic will now become Moody’s Indonesia, with Moody’s providing management and technical support, including rating methodologies and analyst training based on Moody’s global know-how in credit analysis. Moody’s will benefit from Kasnic’s expertise in rating options, debt instruments, including Islamic debt, corporate bonds, asset-backed securities and structured financings, municipal bonds and medium-term notes.
Raymond McDaniel Jr, chairman and CEO of Moody’s Corp. commented: “Indonesia is South-East Asia’s largest economy and is growing rapidly. Demand for Moody’s rating services in the country should grow substantially in the coming years as capital investment increases, and its domestic capital market develops.”