Arias, Fábrega & Fábrega acted as local counsel to Moody's Corporation in connection with the acquisition of Equilibrium Calificadora de Riesgo S.A., a leading provider of credit rating and research services in Peru, Panama and other countries in Latin America. ARIFA represented Moody's Corporation in its assessments of all Panamanian corporate and regulatory matters.

Based in Peru, Equilibrium has operated since 1996. Following the acquisition, Equilibrium will continue to issue domestic ratings in Peru and Panama with an independent analytical and rating committee process.

“Equilibrium is highly-regarded for the quality of its credit ratings and research and the broad scope of its analytical coverage,” said Raymond McDaniel, President and Chief Executive Officer of Moody's. “This acquisition positions Equilibrium to serve the growing needs of issuers and investors across Latin America while deepening Moody’s presence in this dynamic and expanding market.”

Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody's Corporation is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management. The Corporation, which reported revenue of US$3.3 billion in 2014, employs approximately 9,900 people worldwide and maintains a presence in 33 countries.