Moody’s Corporation acquisition of a minority stake in ICR

Satterlee Stephens, Alessandri and Castillo Yoma Abogados advised on the deal

Moody’s Corporation (NYSE: MCO) has agreed to acquire a minority stake in ICR Chile, a leading provider of domestic credit ratings in Chile. This transaction adds to Moody’s growing presence across Latin America, which now extends to eight countries in the region.

Based in Santiago, ICR Chile was founded in 2005. Following the transaction, ICR Chile will become an affiliate of Moody’s Investors Service, and will continue to issue domestic ratings with an independent analytical and rating committee process.

With this investment, Moody’s or its affiliated companies now assigns domestic ratings in Argentina, Brazil, Chile, Mexico, Panama, Peru and Uruguay. In addition, Equilibrium Moody’s wholly-owned affiliate based in Lima, Peru, recently announced plans to extend its ratings coverage to Bolivia.

The transaction is expected to be finalized in the first quarter of 2019. The terms of the investment were not disclosed.

Satterlee Stephens advised Moody’s Corporation with Dwight A. Kinsey and Rina Patel.

In Chile, Alessandri advised Moody’s Corporation with a team including Fernando Jamarne (Picture), Felipe Cousiño, Nicole Cartier, Cristóbal Riffo, Guillermo Correa, Maricarmen Muñoz and Andrés Dighero.

Castillo Yoma Abogados advised ICR Chile with Miguel Ángel Castillo Yoma, Sebastián Echeverría Castellón and Fernando Virot Zúñiga.

Involved fees earner: Miguel Ángel Castillo Yoma – Castillo Yoma Abogados; Sebastián Echeverría Castellón – Castillo Yoma Abogados; Dwight Kinsey – Satterlee Stephens; Rina Patel – Satterlee Stephens; Fernando Jamarne – Alessandri Abogados; Felipe Cousiño – Alessandri Abogados; Nicole Cartier Z. – Alessandri Abogados; Cristóbal Riffo – Alessandri Abogados; Guillermo Correa – Alessandri Abogados; Maricarmen Muñoz – Alessandri Abogados; Andrés Dighero – Alessandri Abogados;

Law Firms: Castillo Yoma Abogados; Satterlee Stephens; Alessandri Abogados;

Clients: Moody’s Corporation; ICR Clasificadora de Riesgos ;

Author: Ambrogio Visconti.