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S&P, Moody's (Buffett) Earn Record Fees From Derivatives Market

December 12, 2005 | About:

Moody's Investors Service and Standard & Poor's, the world's biggest credit-rating companies, are raking in record fees from customized bond sales crafted by Wall Street's derivative specialists.

Revenue at Moody's, whose biggest shareholder is Warren Buffett's Berkshire Hathaway Inc., probably increased 19 percent this year to an all-time high of $1.7 billion and may rise 17 percent at S&P to a record $2.4 billion, estimates Bear Stearns Cos. analyst Michael Meltz.

http://www.bloomberg.com/apps/news?pid=10000103&sid=aocV4h_xwAL0


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