Moody’s plans to spend $250 million to better evaluate the cybersecurity risks that face America’s largest corporations. Moody’s credit ratings can influence global markets, and its announcement comes as the Biden administration officials urge major firms to be more transparent about their software security. Several high-profile hacks and attacks have plagued businesses over the past year and have cost companies millions. Moody’s $250 million investment will be in BitSight, which uses an algorithm to assess the likelihood that security will be breached. The deal will make Moody’s the largest minority shareholder in BitSight. In addition, BitSight will acquire a cyber risk rating system created by Moody’s and TeamI; a think tank focused on global cybersecurity risk.