Finally, there is some good news for the international credit rating agency, Moody's Corporation. The firm which is the parent company of Moody's Investors Service told media that it has reported a profit which is higher than what the experts had expected out of it.

This increase has happened because of the strong show in the junk bond issuance segment.

It reported a quarterly profit of $113.4 million as against $90.2 million last year. This means that the profits rose from 38 cents per share to 47 cents per share. The revenue increased to $476.6 million against $408.9 million, a rise of 17 per cent.

These figures are higher than the analysts' expectations. They had predicted that the earnings would be 44 cents per share meaning an income of $456.2 million.

But despite this growth, the company failed to match its full year prediction. The New York-based firm showed an earning of $1.75 to $1.80 per share.

But not bogged down by this, the Chief Executive of Moody's Raymond McDaniel said that the debt issuances that will take place later this year would help it overcome this as well.