SUBSIDIARIES OF THE REGISTRANT

EXHIBIT 21

LIST OF ACTIVE SUBSIDIARIES AS OF JANUARY 31, 2006

Company Name	Jurisdiction of Creation
Moody’s Latin America Calificadora de Riesgo S.A.	Argentina
Moody’s Investors Service Pty. Ltd.	Australia
Economy.com Pty. Inc.	Australia
Moody’s America Latina Ltda.	Brazil
Moody’s Central Europe (BVI) Ltd.	British Virgin Islands
Moody’s Latin America Holding Corp.	British Virgin Islands
Moody’s Investors Service (BVI) Ltd.	British Virgin Islands
Moody’s Israel Holdings, Inc.	British Virgin Islands
Moody’s Canada, Inc.	Canada
Economy.com (Canada) Inc.	Canada
Moody’s Investors Service (Beijing) Ltd.	China
Moody’s Interbank Credit Service Ltd.	Cyprus
Moody’s Central Europe Ltd.	Czech Republic
MIS Quality Management Corp.	Delaware
Moody’s Assureco, Inc.	Delaware
Moody’s Investors Service, Inc.	Delaware
Moody’s Holdings, Inc.	Delaware
Moody’s KMV Company	Delaware
Moody’s Overseas Holdings, Inc.	Delaware
Moody’s Economy.com	Delaware
Moody’s Investors Service Ltd.	England
Moody’s Holdings UK Ltd.	England
Moody’s KMV Ltd.	England
Syndicate Underwriting Research Ltd.	England
Economy.com (U.K.) Ltd.	England
Moody’s France S.A.S	France
Moody’s Deutschland GmbH	Germany

Moody’s Asia Pacific Ltd.	Hong Kong
Moody’s China Financial Information Service, Ltd.	Hong Kong
Moody’s KMV Hong Kong Limited	Hong Kong
Moody’s Investment Company India Pvt. Ltd.	India
Moody’s Risk Management Services, Ltd.	Ireland
Moody’s Italia S.r.l.	Italy
KMV Asia	Japan
Moody’s Japan Kabushiki Kaisha	Japan
Korea Investors Service, Inc.	Korea
KIS Pricing, Inc.	Korea
Moody’s Investors Service (Korea) Inc.	Korea
Moody’s Mauritius Holdings Ltd.	Mauritius
Administración de Calificadoras, S.A. de C.V.	Mexico
Moody’s de Mexico S.A. de C.V.	Mexico
Moody’s Holdings BV	Netherlands
Moody’s Assurance Company, Inc.	New York
Moody’s Eastern Europe LLC	Russia
Moody’s Interfax Rating Agency	Russia
Moody’s KMV Singapore Pte.	Singapore
Moody’s Singapore Pte. Ltd.	Singapore
Moody’s Investors Service South Africa (Pty.) Ltd.	South Africa
Moody’s Investors Service Espana, S.A.	Spain
Moody’s Taiwan Corporation	Taiwan
Moody’s Interfax Rating Agency Ukraine LLC	Ukraine