Moody’s second-quarter profit falls

Moody's Corp, the parent of Moody's Investors Service, said on Wednesday that second-quarter profit fell, hurt by a steep slide in demand for credit ratings.
Net income for the New York-based company fell to $135.2 million, or 54 cents per share, from $261.9 million, or 95 cents a share, a year earlier.
Moody's said operating profit fell 36% from a year earlier to $233.7 million. Profit excluding items was 51 cents per share.