(Reuters) - Ratings agency Moody's (NYSE:MCO) reported higher-than-expected profit in the third quarter on Wednesday, helped by strong demand for its research and analytics.
The New York-based company saw robust demand for its data and insights, including CreditView, its flagship credit research product.
Lesser economic uncertainty compared to last year also helped a rebound in debt issuance, further boosting Moody's business.
The company reported adjusted profit of $2.43 per share for the three months ended Sept. 30, compared with analysts' average estimate of $2.30 per share, according to LSEG data.
"We are in a new era of exponential risk which requires an urgent evolution for our customers," CEO Rob Fauber said in a statement.
Moody's kept its full-year adjusted profit forecast unchanged at $9.75 to $10.25 per share.
In August, Moody's cut credit ratings of several small to mid-sized U.S. banks and said it may downgrade some of the nation's biggest lenders, warning that the sector's credit strength would likely be tested by funding risks and weaker profitability.