Moody's has entered into a Technical Services Agreement with BRC Investor Services SA. Headquartered in Bogota, Colombia. BRC has established a strong local presence in Colombia since it was founded in 1998, providing local market credit ratings and corporate governance analysis. Under the terms of the Agreement, Moody's provides BRC with technical support and analyst training based on its globally recognized credit analysis techniques for credit ratings and corporate governance research. BRC will continue to provide domestic rating services, rendering opinions on the relative creditworthiness of issuers and issues within Colombia. Separately, Moody's will continue to assign globally comparable ratings for domestic as well as cross-border financings.