Moody�s Corporation (Moody�s) is a provider of credit ratings; credit and economic related research, data and analytical tools; risk management software; quantitative credit risk measures, credit portfolio management solutions, training and financial credentialing and certification services, and outsourced research and analytical services to institutional customers. The Company operates in two segments: Moody�s Investors Service (MIS) and Moody�s Analytics (MA). The MIS segment consists of all credit rating activity. All of Moody�s other non-rating commercial activities are included within the MA segment. In December 2011, the Company acquired Barrie & Hibbert Limited, a provider of risk management modeling tools for insurance companies worldwide. In November 2011, the Company acquired Copal Partners, a provider of outsourced research and analytical services to institutional investors.