Moody's Corporation announced plans to acquire a majority equity stake in Middle East Rating & Investors Service (MERIS), its Egyptian affiliate credit rating agency. The move strengthens Moody's presence in the Middle East and Africa and supports the development of local capital markets. MERIS, founded in 2003 as a joint venture between Moody's and Egyptian firm FinBi, provides national-scale credit ratings for financial institutions, corporates, and structured finance. The agency will remain an independent affiliate, issuing its own ratings and maintaining its management team. The deal, subject to regulatory approvals, marks a new stage in the partnership, with Moody's aiming to share global best practices while MERIS continues to expand its role in Egypt's financial markets. Terms of the transaction were not disclosed. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
