Stephen Maire | Global Head, IR & Communications |
Raymond McDaniel | President, CEO & Director |
Mark Kaye | SVP & CFO |
Robert Fauber | President, Moody's Investors Service |
Mark Almeida | President, Moody's Analytics |
Vincent Hung | Autonomous Research |
Manav Patnaik | Barclays Bank |
Alexander Kramm | UBS Investment Bank |
Toni Kaplan | Morgan Stanley |
Joseph Foresi | Cantor Fitzgerald & Co. |
Peter Appert | Piper Jaffray Companies |
Jeffrey Silber | BMO Capital Markets |
Craig Huber | Huber Research Partners |
William Warmington | Wells Fargo Securities |
Timothy McHugh | William Blair & Company |
Shlomo Rosenbaum | Stifel, Nicolaus & Company |
Good day, and welcome ladies and gentlemen, to the Moody's Corporation Third Quarter 2018 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded. [Operator Instructions]. I will now turn the conference over to Steve Maire, Global Head of Investor Relations and Communications. Please go ahead.