Exhibit 99.2

  Moody's Announces a 2-for-1 Stock Split and Cash Dividend Increase

    NEW YORK--(BUSINESS WIRE)--Feb. 16, 2005--The Board of Directors
of Moody's Corporation (NYSE:MCO) has declared a two-for-one stock
split to be effected as a special stock distribution of one share of
common stock for each share of the Company's common stock outstanding.
Stockholders of record as of the close of business on May 4, 2005 will
receive one additional share of common stock for each share of the
Company's common stock held on that date. Such additional shares will
be distributed on May 18, 2005.
    The Board of Directors' declaration of a special stock
distribution is subject to stockholder approval of a charter amendment
to increase the Company's authorized common shares. Moody's
stockholders will vote on the charter amendment at the Company's
Annual Meeting, which will be held on April 26, 2005. The proposal to
amend the Company's charter to increase the number of authorized
shares will be more fully described in the Company's annual meeting
proxy statement to be filed with the SEC, in preliminary form, later
this month.
    The Board of Directors also approved a 47% increase in the
Company's regular quarterly cash dividend payable on June 15, 2005 to
stockholders of record as of the close of business on May 27, 2005. On
a pre-split basis, the quarterly dividend will be increased to 11
cents per share from the previous level of 7.5 cents per share. If the
stock split is effected, then on a post-split basis, the dividend will
be increased to 5.5 cents per share from the 3.75 cents per share that
otherwise would have been paid absent the dividend increase.
    Moody's Corporation (NYSE:MCO) is the parent company of Moody's
Investors Service, a leading provider of credit ratings, research and
analysis covering debt instruments and securities in the global
capital markets, and Moody's KMV, a leading provider of market-based
quantitative services for banks and investors in credit-sensitive
assets serving the world's largest financial institutions. The
corporation, which reported revenue of $1.4 billion in 2004, employs
approximately 2,500 people worldwide and maintains offices in 18
countries. Further information is available at www.moodys.com.

    CONTACT: Moody's Corporation
             Investor Relations and Corporate Finance
             Michael Courtian, 212-553-7194
             michael.courtian@moodys.com