By Rob Curran

Moody's Corp. boosted its projections for 2023 earnings, citing higher-than-anticipated issuance of investment-grade bonds.

The New York credit-ratings and research firm raised its projection for adjusted net income for the year to $9.75 to $10.25 a share, from a previous target of $9.50 to $10 a share. On a GAAP basis, Moody's now targets earnings of $8.70 to $9.20 a share, up from $8.45 to $8.95 previously.

Investors are becoming more partial to higher credit-quality debt, Moody's said.

Write to Rob Curran at rob.curran@wsj.com

(END) Dow Jones Newswires

July 25, 2023 07:40 ET (11:40 GMT)

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