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Moody's makes Middle East debut

Ratings agency Moody's has officially opened its offices in the Dubai International Financial Centre (DIFC), which will serve its Middle East customers.

Moody's Middle East has appointed Philipp Lotter as vice president and senior credit officer, and Peter Carvalho as vice president and senior analyst, to be based out of the firm's Dubai office. They will serve as lead analysts for certain corporate issuers and financial institutions in the GCC region respectively.
Raymond W. McDaniel, Jr., chairman and CEO of Moody's Corporation, said: "Middle Eastern capital market participants are increasingly accessing the global capital markets to address their financing requirements. Dubai and the DIFC provide Moody's with a good base from which to address the growing regional demand for in-depth, globally comparable credit analysis and ratings."

His Excellency Dr. Omar Bin Sulaiman, governor of the DIFC, said: "Sustained high growth rates in most of the Middle Eastern economies have positioned the region as the destination of choice for global investors, in turn highlighting the crucial need for credible financial information. We welcome highly-respected international financial services institutions such as Moody's Investors Service. The presence of such global organisations will add significant value to the DIFC."

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