Moody's profits up 37 per cent

Bond ratings company Moody’s yesterday posted a rise in first-quarter profit, topping Wall Street expectations, and raised its dividend as corporate debt issuance jumped. Net income rose 37 per cent to $155.5m (£94.3m) from $113.4m a year earlier, equating to a 43 per cent rise in earnings per share to 67 cents, from 47 cents in 2010. Analysts on average expected 54 cents a share.