Moody's History

In 1909, Moody began publishing Moody's Analyses of Railroad Investments, which added analytical information about the value of securities.

John Knowles Fitch founded the Fitch Publishing Company in 1913, providing financial statistics for use in the investment industry via The Fitch Stock and Bond Manual and The Fitch Bond Book.

In 1923, Fitch introduced the AAA through D rating system that has become the basis for ratings throughout the industry.

1924 Moody's ratings system encompasses stocks and the entire United States bond market.

When the stock market crashed in 1929 and ushered in the Great Depression, John Moody did not lose his business like before.

1962 Moody's is bought by Dun Bradstreet Corporation.

The credit ratings industry began to adopt some important changes and innovations in 1970.

In 1975, financial institutions such as commercial banks and securities broker-dealers sought to soften the capital and liquidity requirements passed down by the Securities and Exchange Commission SEC . As a result, nationally recognized statistical ratings organizations NRSROs were created.

In January 1996 D B announced its intention to divide into three public companies to better serve its shareholders and market segments.

1998 Moody's buys a 10 percent stake in Korea Investors Service.

Moody's sales for 1999 had reached 564.2 million, with net income just shy of 156 million.

2000 Moody's Investors Service is spun off from Dun Bradstreet and becomes a public company.

As Bethany McLean pointed out in a Fortune profile of Moody's and S P in December 2001, The weight their opinions carry make their judgments critical--but also complicated.

2002 Moody's Corporation acquires the San Francisco-based KMV for 212.6 million.

Fitch began to develop operating subsidiaries specializing in enterprise risk management, data services, and finance-industry training starting in 2005 with the acquisition of a Canadian company, Algorithmics, and the creation of Fitch Solutions and Fitch Training now Fitch Learning .

Congress passed the Credit Rating Agency Reform Act of 2006, allowing the SEC to regulate the internal processes, record-keeping, and certain business practices of CRAs.

By 2008, Moody s Analytics formed as a separate and independent entity from Moody s Investors Service.