Revenue and Issuance Analysis
Historically, Moody's Revenue and Interest Rates
Have Not Been Strongly Correlated
MCO Revenue and Interest Rates
MIS Revenue (L)
IMA Revenue Guidance
IMIS Revenue Guidance
MA Revenue (L)
MCO Revenue (L)
10-yr U.S. Treasury Yield (R)
1
$ Millions
$6,000
7.8%
$5,000
6.5%
$4,000
5.8%
$3,000
+200bps
4.7%
+180bps
$2,000
$1,000
$0
40
1992
1993
1994
+120bps
+100bps
3.3%
3.0%
2.7%
2.3%
1.8%
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019F
Note: Gray bars reflect periods of significant increases in the 10-year Treasury Yield.
1.
10-yr U.S. Treasury Yields are represented by the rate at the end-of-period.
Source: www.treasury.gov.
MOODY'S
9%
8%
7%
6%
3%
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- 5%
4%
2%
1%
0%
November 4, 2019 52View entire presentation