Affiliates

Our affiliates significantly expand Moody’s presence in Latin America and reaffirm our commitment to the ongoing development of domestic financial markets in the region.

In 2019, Moody’s acquired a minority stake in ICR Chile, a leading provider of domestic credit ratings in Chile. Based in Santiago, ICR Chile was founded in 2005. ICR Chile is now an affiliate of Moody’s Local, and continues to issue domestic ratings in Chile with an independent analytical and rating committee process. 

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In 2023, Moody’s Corporation acquired SCR, a leading group of local credit rating agencies serving domestic financial markets in Central America and the Dominican Republic. With the acquisition, SCR became an affiliate of Moody’s Local and continues to develop its own rating methodologies and issue its own domestic ratings. In Panama, Moody’s has merged SCR’s operations into Moody’s Local Panama.   
Based in Costa Rica and El Salvador, SCR provides domestic credit ratings in Costa Rica, El Salvador, Nicaragua, Panama, Honduras, Guatemala, and the Dominican Republic. 

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