Stephen Maire | Global Head of IR and Communications |
Raymond W. McDaniel, Jr. | President and CEO |
Mark E. Almeida | President, Moody's Analytics |
Robert Fauber | President, Moody's Investors Service |
Manav Patnaik | Barclays |
Alex Kramm | UBS |
Toni Kaplan | Morgan Stanley |
Michael Reid | Cantor Fitzgerald |
Peter Appert | Piper Jaffray |
Jeffrey Silber | BMO Capital Markets |
Timothy McHugh | William Blair & Company |
Craig Huber | Huber Research Partners |
William Warmington | Wells Fargo |
Vincent Hung | Autonomous Research |
Good day and welcome ladies and gentlemen to the Moody's Corporation Second Quarter 2018 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded and that all participant lines are in a listen-only mode. At the request of the Company, we will open the conference for question-and-answers following today's presentation. I will now turn the conference over to Steve Maire, Global Head of Investor Relations and Communications. Please go ahead, sir.