2005 Outlook as of 5/10/05
-20% -10% No Growth +10% +20%
GLOBAL STRUCTURED FINANCE
GLOBAL RATINGS & RESEARCH
- Revenue growth in the high single to low double digit range.
- Margin estimated to decline up to 100 basis points in 2005 compared with 2004, before the impact of expensing stock-based compensation.
- EPS growth in the high single to low double-digit percent range before impacts of expensing stock-based compensation and legacy tax provisions. (See p.37 for further information.)
US Financial Institutions