If anyone has a public relations problem, it’s Moody’s (MCO), once a well-respected bond ratings service, now DC’s favorite whipping boy for its role in the credit meltdown. Between Buffett‘s dumping of the company’s stock and Greenlight’s David Einhorn pitching it as an investment short, management at Moody’s has decided to play a little offense.
Taking a page from one of Buffett’s other holdings, GEICO, Moody’s has chosen the cute and cuddly route back into our good graces. The following press release* just hit the wires:
Moody’s Corporation to Introduce Raytee, the new Moody’s Spokesmoose
NEW YORK, Sep 26, 2009 (BUSINESS WIRE) — Raymond W. McDaniel, Jr., Chairman and CEO of Moody’s Corporation (NYSE: MCO), will formerly introduce the company’s new Spokesmoose, Raytee, at corporate headquarters on Tuesday, September 29, 2009 in New York. The event will begin at approximately 8:45 a.m. Eastern Time and will be webcast live. The webcast can be accessed at http://ir.moodys.com.
“I am extremely pleased to welcome Raytee the Moose into the Moody’s Family,” said Mr. McDaniel, “and we have high hopes for improved communications with both the fixed income industry as well as the children who will one day grow up to utilize our credit rating services.” Raytee will pose for photos with the kids as well as personally rate any debt guests would like to bring to the event.
ABOUT MOODY’S CORPORATION
Moody’s is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody’s Corporation (NYSE: MCO) is the parent company of Moody’s Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody’s Analytics, which encompasses the growing array of Moody’s non-ratings businesses including risk management software for financial institutions, quantitative credit analysis tools, economic research and data services, data and analytical tools for the structured finance market, and training and other professional services. The Corporation, which reported revenue of $1.8 billion in 2008, employs approximately 3,900 people worldwide and maintains a presence in 27 countries. Further information is available at www.moodys.com.
SOURCE: Moody’s Corporation
Moody's Corporation DAVID ADAMSON Senior Vice President Corporate Communications - CINDY PREFONTAINE Vice President Investor Relations
*obviously a parody, have a sense of humor