Shumway Capital's Shumway sees Moody's as 'a great business'

NEW YORK Mon May 5, 2014 12:57pm EDT

NEW YORK May 5 (Reuters) - Chris Shumway, the founder and managing partner of Shumway Capital, said on Monday that Moody's Investors Service could see significant revenue growth opportunities in coming years.

Speaking at the Sohn Investment Conference, Shumway said Moody's, one of the two biggest credit rating agencies in the United States, "is a great business."

He also said the company's management is shareholder friendly, noting stock buybacks.

Shares of Moody's traded up 1.6 percent up at $79.81 on Monday.

Shumway also suggested investors short the offshore yuan, the CNH. China will have "limited options... to deal with their slowing growth," he said.

The Sohn Investment Conference raises money to support pediatric oncology research. (Reporting by Luciana Lopez; Editing by Leslie Adler)

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