Source: Moody's
Moody's Corporation announced today that it has acquired a 16% direct equity stake in KIS Pricing, a leading Korean bond pricing company, positioning Moody's to benefit from continued strong growth in the Korean domestic debt markets.
The acquisition adds to Moody's existing indirect ownership of KIS Pricing through its controlling equity stake in Korea Investors Service (KIS), a leading Korean rating agency. Terms of the transaction were not disclosed.
"Moody's has a thriving partnership with KIS and KIS Pricing, which we hope to further support as we increase our presence in the Asia-Pacific region," said Jennifer Elliott, Managing Director-Regional Head of Asia Pacific for Moody's Investors Service. "This is an attractive investment for Moody's, and it reflects our desire to work closely with KIS to take advantage of the continued strength and potential of the Korean domestic debt markets."
KIS Pricing, founded in 2000, is a leading bond pricing company in Korea. The company, which serves major Korean financial institutions, asset managers and trust providers, also offers fixed-income database information and consulting services.
"We have enjoyed cooperation and a strong relationship with Moody's to date, and this investment is an important endorsement by Moody's of our business and the prospects for the Korean domestic debt markets," said Sun Dae Kim, CEO of KIS Pricing. "Our partnership with Moody's supports KIS Pricing in its mission to be the premier provider of fixed income pricing for market participants in Korea."