Moody's affirms MSCI, RiskMetrics

Moody's Investors Service said it affirmed MSCI, Inc.'s corporate family rating at Ba2, probability of default rating at Ba3, $75 million secured revolving credit facility at Ba2 (LGD 2, 29%), $380 million secured term loan at Ba2 (LGD 2, 29%) and speculative grade liquidity rating at SGL-1, along with RiskMetrics Group Holdings LLC's corporate family rating at Ba3, probability of default rating at B1, $25 million first-lien revolver at Ba3 (LGD 3, 33%) and $288 million first-lien term loan at Ba3 (LGD 3, 33%).

MSCI's outlook was revised to developing from positive.

RiskMetrics' outlook remains positive.

These actions follow news that MSCI plans to acquire RiskMetrics Group, Inc.'s outstanding common equity in a cash and stock transaction for about $1.55 billion, Moody's said.

The existing secured debt of both MSCI and RiskMetrics is expected to be repaid in connection with the acquisition, the agency said.

The transaction is expected to materially increase MSCI's leverage, Moody's said.

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