Moody's Corporate Overview and Financial Outlook
Corporate Overview | MIS Business Conditions | MA Business Conditions | Financial Review and Outlook | Appendix
Market Conditions for Financial Institutions Are Improving
Revenue Mix: Financial Institutions
100
Revenue $ Millions
80
60
60
40
40
20
20
Issuance $ Billions
Issuance: Global Financial Institutions
800
14
12
600
400
200
10
8
CO
2
Yield (%)
1Q09
T
0
+0
2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10
■Banking
□ Insurance
Managed Investments
Historical data has been adjusted to conform with current information
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10
Global Financial Institution Issuance ($ billions)
Global Banking Yield (%)
Global Insurance Yield (%)
Source: Moody's Capital Markets Research Group, Dealogic
Debt issuance categories do not directly correspond to Moody's
revenue categorization
>> FIG revenue has a large recurring component and is relatively inelastic to issuance due to
predominance of frequent-issuer contracts with larger financial institutions
» Expect revenue growth in 2011 as smaller financial institutions are returning to market
opportunistically due to more favorable financing costs
MOODY'S
MARCH 1, 2011 8View entire presentation