Moody’s Corporation (NYSE:MCO) has completed its full acquisition of ICR Chile (ICR), a leading provider of domestic credit ratings in Chile. This transaction follows Moody’s initial acquisition of a minority stake in ICR in 2019, further solidifying its presence in Latin America’s domestic credit markets.

Following the acquisition, ICR will continue to issue domestic ratings in Chile utilizing its established rating processes and methodologies. In the coming months, ICR is slated for full integration into Moody’s Local, a collective of credit rating agencies operating across Latin America.

Martin Fernandez-Romero, Managing Director of Moody’s Local, commented on the acquisition, stating, “Today’s acquisition builds on our successful partnership with ICR and underscores our commitment to Chile’s growing debt capital market. Bringing ICR into Moody’s Local will enhance our ability to provide high quality credit ratings, research, and analytical services to market participants, while contributing to greater transparency in Latin America.”

Established in 2005, ICR is known for its analytical quality and the expertise of its analytical teams. The company provides ratings across various sectors, including corporates, financial institutions, insurers, structured finance vehicles, funds, and project finance. Since Moody’s initial investment, ICR has experienced market growth and expanded its coverage within Chile’s domestic ratings market.

Moody’s Local encompasses domestic rating agencies covering 13 Latin American domestic financial markets, offering domestic credit ratings, research, and risk analyses tailored to the unique dynamics of each market. The terms of the acquisition were not disclosed. The transaction is not anticipated to have a material impact on Moody’s 2025 financial results.