Salli Schwartz | Global Head, IR & Strategic Capital Management |
Ray McDaniel | President & CEO |
Mark Kaye | SVP & CFO |
Mark Almeida | President, Moody's Analytics |
Rob Fauber | President, Moody's Investors Service |
Manav Patnaik | Barclays |
Toni Kaplan | Morgan Stanley |
Alex Kramm | UBS |
Peter Appert | Piper Jaffray |
Joseph Foresi | Cantor Fitzgerald |
Bill Warmington | Wells Fargo |
Jeff Silber | BMO Capital Markets |
Craig Huber | Huber Research Partners |
Timothy McHugh | William Blair & Company |
Good day, and welcome ladies and gentlemen to the Moody's Corporation First Quarter 2019 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded and that all participants are in a listen-only mode. At the request of the company, we will open the conference up for question-and-answers following the presentation. I would now turn the conference over to Salli Schwartz, Global Head of Investor Relations and Strategic Capital Management. Please go ahead.