08:24 AM EDT, 07/08/2024 (MT Newswires) -- Moody's (MCO) said Monday it has fully acquired Global Credit Rating for an undisclosed sum.

The company said GCR, which rates financial institutions, corporates, public sector issuers, and structured transactions in Africa, will continue to operate as an affiliate of Moody's with a separate management team and its own rating methodologies and credit rating issuances.

Moody's said the announcement follows its 2022 acquisition of a majority interest in GCR.

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