S&P Global Downgrades Moody's Following $3.3 Billion Bureau Van Dijk Purchase

S&P Global downgraded Moody's  (MCO)  to "negative" from "stable" while maintaining its BBB+ rating Monday after the company announced that it purchased Dutch business information provider Bureau van Dijk fro $3.3 billion. 

The firm expect's Moody's purchase to be financed through "incremental debt and offshore cash" which could raise its adjusted leverage to 2.8 times future earnings. 

Moody's expects the purchase to benefit top- and bottom-line results slightly in 2018 and become fully accretive by 2019.

Moody's shares were up 1.3% in Monday afternoon trading. 

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