London — Mayer Brown has advised Moody’s Corporation on a collaboration with Euler Hermes Ratings GmbH (EHRG), a Hamburg-based ratings agency, to provide credit ratings for small and medium-sized enterprises and mid-cap companies across Europe. As part of the collaboration, the firm also advised Moody's on the acquisition of 4.99 percent stake in EHRG, which was previously a 100 percent subsidiary of Euler Hermes AG.

EHRG will launch its new credit ratings services combining Moody’s Investors Service’s credit ratings methodology expertise and Euler Hermes group’s experience analysing the trade credit of European companies. The new ratings service will be launched in Germany in early 2017, followed by other European countries.

The Mayer Brown team was led by London Corporate & Securities partner Peter Dickinson and included senior associate Katherine Woods (London) and counsel Christoph Broich (Frankfurt).

Euler Hermes were advised by a team from Herbert Smith Freehills which was led by Partner Hubert Segain (Paris) and included associates Anaïs Le Brech (Paris) and Rüdiger Hoffmann (Germany).