Scotland Aims to Launch Its Own Bonds, Remembering the Cost of Independence.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 30 2025
0mins
Should l Buy MCO?
Source: WSJ
- Historical Context: Scotland's last venture into capital markets occurred in 1695, involving significant investment from merchants and aristocrats.
- Failed Investment: The attempt was to establish a colony aimed at dominating global trade, but it ultimately failed, leading to substantial financial loss.
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Analyst Views on MCO
Wall Street analysts forecast MCO stock price to rise
10 Analyst Rating
8 Buy
2 Hold
0 Sell
Strong Buy
Current: 435.800
Low
526.00
Averages
586.50
High
660.00
Current: 435.800
Low
526.00
Averages
586.50
High
660.00
About MCO
Moody's Corporation is a global integrated risk assessment company. It is a global provider of research and insights; data and information, and decision solutions, which help companies make decisions. Its MA segment provides data, intelligence and analytical tools to help business and financial leaders make decisions. MA consists of a premier fixed income and economic research business (Research & Insights); a data business powered by databases on companies and credit (Data & Information), and three cloud-based subscription businesses serving banking, insurance and KYC workflows (Decision Solutions). Its MIS segment is a global provider of credit ratings, research, and risk analysis. It publishes credit ratings and provides assessment services on a wide range of debt obligations, programs and facilities, and the entities that issue such obligations in markets worldwide, including various corporate, financial institution and governmental obligations, and structured finance securities.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Credit Rating Upgrade: The company achieved an upgrade to AAA by Moody's, reflecting significant improvement in credit quality, which provides favorable conditions for future financing and enhances investor confidence.
- Innovative Investment Plan: Cemig plans to invest 6.6 billion BRL in 2025, focusing on regulated sectors to ensure profitability while driving long-term growth strategies for the company.
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- Sustained Dividend Growth: Coca-Cola has increased its dividend for 64 consecutive years, while American Express and Moody's have raised theirs for 17 and 5 years respectively, with projected annual dividends of $2.06 for Coca-Cola, showcasing the strong cash flow and earning potential of these
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- Power of Dividend Growth: Coca-Cola has increased its dividend for 64 consecutive years since 1988, while American Express and Moody's have maintained dividend growth for 5 and 17 years respectively, providing robust cash flow support for Berkshire's investments.
- Commitment from New CEO: New CEO Greg Abel has made it clear that he will not sell these
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- Long-Term Holding Commitment: Berkshire Hathaway's new CEO Greg Abel stated in his letter to shareholders that the company expects to maintain concentration in core holdings like Apple, American Express, Coca-Cola, and Moody's unless there are 'fundamental changes in long-term economic prospects,' indicating a steadfast long-term investment strategy.
- American Express Investment Returns: Berkshire owns 22% of American Express at a cost basis of $1.29 billion, with a market value of $56.1 billion at the time of the shareholder letter, highlighting the substantial return potential of this investment, which yielded $479 million in dividends last year, exceeding the total investment cost in less than three years.
- Strong Revenue Growth: American Express collected nearly $10 billion in net card fees in fiscal 2025, an 18% year-over-year increase, with expectations for further growth in fiscal 2026 due to the introduction of an $895 annual fee for the Platinum Card, showcasing its robust growth potential in the financial services sector.
- Shareholder Return Strategy: American Express finished fiscal 2025 with a 10% revenue increase and a 15% rise in adjusted earnings per share, and its strong margins and consistently rising earnings enable regular capital returns to shareholders through stock buybacks and dividend growth, further solidifying Berkshire's investment value.
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- Significant Shareholder Returns: American Express reported a net income of $10.7 billion for fiscal 2025, reflecting a 15% year-over-year increase, indicating the company's ability to enhance profitability while returning more value to shareholders through stock buybacks and dividends.
- Superior Credit Risk Management: With relatively low net write-off rates, American Express demonstrates strong credit risk management in its card issuance, and the introduction of the $895 annual fee Platinum Card in fiscal 2026 is expected to further boost revenue growth.
- Diversified Revenue Streams: The company generated $37.4 billion in discount revenue in fiscal 2025, establishing itself as a dominant player in merchant transaction processing, while net interest income also provides substantial cash flow to the business.
- Long-term Investment Value: With a price-to-earnings ratio of 19.5, below the 10-year median of 17.8, American Express presents a reasonable investment opportunity in the current market, making it suitable for long-term holding to achieve stable returns.
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- Market Valuation Alarm: The S&P 500 has dropped 3% from its 2026 peak, primarily due to concerns over elevated valuations and economic headwinds from Trump's tariffs, indicating a cautious market outlook on future economic conditions.
- Impact of Oil Price Surge: Brent crude oil prices have surpassed $100 per barrel for the first time, with Moody's chief economist warning that rising oil prices could push the U.S. economy into recession, adding to market uncertainty.
- Increased Recession Probability: Moody's machine learning model indicates a 49% chance of recession within the next 12 months, and historical data shows that readings above 50% almost always precede a recession, prompting investors to remain vigilant.
- Investment Strategy Adjustment: Despite recession risks, experts recommend that investors focus on high-conviction stocks and consider building cash positions to capitalize on buying opportunities if the market experiences significant declines.
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