Moody’s Boosts Forecast as US Corporate Bond Issuance Surges
- Second quarter revenue from rated high-grade issuance rose 28%
- Favorable funding backdrop, strong demand boosting bond sales
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Moody’s Corp. reported adjusted second-quarter earnings that beat expectations and also raised its forecast, as a corporate bond issuance spree bolstered its debt-rating business.
Adjusted earnings per share rose 43% to $3.28 in the period, Moody’s said in a statement Tuesday. Analysts had expected $3.05, according to estimates compiled by Bloomberg. The company also forecasts adjusted earnings per share for the year of $11 to $11.40, up from previous views of $10.40 to $11, compared with the median analyst estimate of $11.09.