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{{short description|American credit rating agency}}
{{Use American English|date=April 2023}}
{{Use mdy dates|date=April 2023}}
{{Infobox company
{{Infobox company
| name = Fitch Ratings Inc.
| name = Fitch Ratings Inc.
Line 6: Line 9:
| foundation = {{Start date and age|1914}}
| foundation = {{Start date and age|1914}}
| founder = [[John Knowles Fitch]]
| founder = [[John Knowles Fitch]]
| location_city = [[New York City]], [[New York (state)|New York]], [[United States|U.S.]] <br/> [[London]], [[United Kingdom]] (Dual Headquarters)
| location_city = [[New York City]], [[New York (state)|New York]], [[United States|U.S.]] and [[London]], [[England]], [[UK]]
| location_country =
| location_country =
| key_people = Paul Taylor, CEO of Fitch Group <br/> Ian Linnell, President of Fitch Ratings <br/> Brian Filanowski, President of Fitch Solutions <br/>
| key_people = {{ubl|Paul Taylor ([[Chief executive officer|CEO]] of Fitch Group|Ian Linnell ([[President (corporate title)|president]] of Fitch Ratings and Fitch Ratings Inc.|Brian Filanowski (president of Fitch Solutions)|
Tracey Perini ([[Chief financial officer|CFO]])}}
Theodore E. Niedermayer CFO
| area_served =
| area_served =
| industry = [[Financial services]]
| industry = [[Financial services]]
| products =
| products =
| services =
| services =
| revenue = {{Increase}} $1.7 Billion <ref name="2018 Fiscal Report">{{cite web|last=Group|first=Fitch|title=2011 Fiscal|url=http://www.fimalac.com/regulated-information.html|publisher=FIMALAC|accessdate=26 March 2012}}</ref>|
| revenue = {{Increase}} $1.7 Billion <ref name="2018 Fiscal Report">{{cite web|title=2011 Fiscal|url=http://www.fimalac.com/regulated-information.html|publisher=FIMALAC|access-date=March 26, 2012|archive-date=September 27, 2018|archive-url=https://web.archive.org/web/20180927012435/http://www.fimalac.com/regulated-information.html|url-status=dead}}</ref>|
| operating_income =
| operating_income =
| net_income =
| net_income =
| num_employees = 4,500 (approximate)
| num_employees = 5,000 (approximate)
⚫
| parent = [[Hearst Corporation]]<ref name="Hearst press release">{{Cite web|url=https://www.hearst.com/newsroom/fitch-group-becomes-a-wholly-owned-hearst-business|title=Fitch Group Becomes a Wholly-Owned Hearst Business|website=hearst.com|access-date=April 12, 2018}}</ref>
| divisions =
| divisions =
| subsid =
| subsid =
| owner =
⚫
| owner = [[Hearst Corporation]]<ref name="Hearst press release">{{Cite web|url=https://www.hearst.com/newsroom/fitch-group-becomes-a-wholly-owned-hearst-business|title=Fitch Group Becomes a Wholly-Owned Hearst Business|last=|first=|date=|website=hearst.com|access-date=April 12, 2018}}</ref>
| slogan =
| slogan =
| homepage = {{URL|fitchratings.com}}
| homepage = {{URL|https://fitchratings.com/}}
| footnotes =
| footnotes =
}}
}}
'''Fitch Ratings Inc.''' is an American [[credit rating agency]] and is one of the "[[Big Three (credit rating agencies)|Big Three credit rating agencies]]",<ref>{{cite web|url=http://www.juneauempire.com/stories/050509/opi_436594375.shtml|title=Three credit rating agencies hold too much of the power - Juneau Empire - Alaska's Capital City Online Newspaper|first=Richard|last=Blumenthal|date=|website=www.juneauempire.com|accessdate=19 March 2018|archive-url=https://web.archive.org/web/20111101123455/http://juneauempire.com/stories/050509/opi_436594375.shtml|archive-date=1 November 2011|url-status=dead}}</ref> the other two being [[Moody's]] and [[Standard & Poor's]]. It is one of the three [[nationally recognized statistical rating organization]]s ([[Nationally recognized statistical rating organization|NRSRO]]) designated by the [[U.S. Securities and Exchange Commission]] in 1975.
'''Fitch Ratings Inc.''' is an American [[credit rating agency]]. It is one of the three [[nationally recognized statistical rating organization]]s ([[Nationally recognized statistical rating organization|NRSRO]]) designated by the [[U.S. Securities and Exchange Commission]] and is considered as being one of the "[[Big Three (credit rating agencies)|Big Three credit rating agencies]]",<ref>{{cite web|url=http://www.juneauempire.com/stories/050509/opi_436594375.shtml|title=Three credit rating agencies hold too much of the power|newspaper=[[Juneau Empire]]|first=Richard|last=Blumenthal|date=May 5, 2009|access-date=March 19, 2018|archive-url=https://web.archive.org/web/20111101123455/http://juneauempire.com/stories/050509/opi_436594375.shtml|archive-date=November 1, 2011|url-status=dead}}</ref> along with [[Moody's]] and [[Standard & Poor's]].


== History ==
Fitch Ratings is dual headquartered in [[New York City|New York]] and [[London]].<ref>http://hugin.info/143461/R/1601708/505879.pdf</ref> [[Hearst Communications|Hearst]] owns 100 percent of the company following its acquisition of an additional 20 percent for $2.8 billion on April 12, 2018.<ref name="Hearst press release">{{Cite web|url=https://www.hearst.com/newsroom/fitch-group-becomes-a-wholly-owned-hearst-business|title=Fitch Group Becomes a Wholly-Owned Hearst Business|last=|first=|date=|website=hearst.com|access-date=April 12, 2018}}</ref> Hearst had owned 80 percent of the company after increasing its ownership stake by 30 percent on December 12, 2014, in a transaction valued at $1.965 billion. Hearst's previous [[equity interest]] was 50 percent following expansions on an original acquisition in 2006.
Fitch Ratings is dual headquartered in [[New York City|New York]] and [[London]].<ref>{{cite web|url=http://hugin.info/143461/R/1601708/505879.pdf|archive-url=https://web.archive.org/web/20150220021711/http://hugin.info/143461/R/1601708/505879.pdf|url-status=live|title=Sale of 10% of Fitch Group to Hearst|archive-date=2015-02-20}}</ref> [[Hearst Communications|Hearst]] owns 100 percent of the company following its acquisition of an additional 20 percent for $2.8 billion on April 12, 2018.<ref name="Hearst press release">{{Cite web|url=https://www.hearst.com/newsroom/fitch-group-becomes-a-wholly-owned-hearst-business|title=Fitch Group Becomes a Wholly-Owned Hearst Business|website=hearst.com|access-date=April 12, 2018}}</ref> Hearst had owned 80 percent of the company after increasing its ownership stake by 30 percent on December 12, 2014, in a transaction valued at $1.965 billion. Hearst's previous [[equity interest]] was 80 percent following expansions on an original acquisition of 20 percent interest in 2006.<ref>{{cite news |last1=Hufford |first1=Austen |title=Hearst Takes Full Ownership of Fitch Group |url=https://www.wsj.com/articles/hearst-takes-full-ownership-of-fitch-group-1523546475 |access-date=6 January 2024 |work=The Wall Street Journal |date=12 April 2018}}</ref><ref>{{cite news |last1=Barr |first1=Alistair |title=Hearst buys another 10 percent of Fitch for $177 million |url=https://www.reuters.com/article/us-hearst-fitch-idINTRE8181LW20120209/ |access-date=6 January 2024 |publisher=Reuters |date=9 February 2012}}</ref>


Hearst had jointly owned Fitch with [[FIMALAC]] SA, which held 20 percent of the company until the 2018 transaction. Fitch Ratings and Fitch Solutions are part of the Fitch Group.
Hearst had jointly owned Fitch with [[FIMALAC]] SA, which held 20 percent of the company until the 2018 transaction. Fitch Ratings and Fitch Solutions are part of the Fitch Group.


The firm was founded by [[John Knowles Fitch]] on December 24, 1914, in New York City as the Fitch Publishing Company. In 1989, the company was acquired by a group including [[Robert Van Kampen]].<ref>{{Cite news| issn = 0099-9660| pages = 1| title = Group Buys Fitch Investors| work = Wall Street Journal, Eastern edition; New York, N.Y.| location = New York, N.Y., United States, New York, N.Y.| accessdate = 2018-05-09| date = 1989-04-21| url = http://search.proquest.com/wallstreetjournal/docview/398095088/citation/4CF4624180944C32PQ/6|via=ProQuest}}</ref> In 1997, Fitch was acquired by [[FIMALAC]] and was merged with London-based IBCA Limited, a FIMALAC subsidiary.<ref>{{Cite news| issn = 0099-9660| pages = –4| last = Lavin| first = Douglas| title = France's Fimalac Purchases Fitch From Van Kampen| work = Wall Street Journal, Eastern edition; New York, N.Y.| location = New York, N.Y., United States, New York, N.Y.| accessdate = 2018-05-09| date = 1997-10-17| url = http://search.proquest.com/wallstreetjournal/docview/398738137/abstract/9DB7B78575404F8BPQ/5|via=ProQuest}}</ref> In 2000 Fitch acquired both Chicago-based Duff & Phelps Credit Rating Co. (April) and [[Thomson Financial]] BankWatch (December).
The firm was founded by [[John Knowles Fitch]] on December 24, 1914, in [[New York City]] as the Fitch Publishing Company. In 1989, the company was acquired by a group including [[Robert Van Kampen]].<ref>{{Cite news| issn = 0099-9660| pages = 1| title = Group Buys Fitch Investors| work = Wall Street Journal, Eastern edition; New York, N.Y.| location = New York, N.Y., United States, New York, N.Y.| access-date = May 9, 2018| date = April 21, 1989| url = https://www.proquest.com/docview/398095088/citation/4CF4624180944C32PQ/6|via=ProQuest}}</ref> In 1997, Fitch was acquired by [[FIMALAC]] and was merged with London-based IBCA Limited, a FIMALAC subsidiary.<ref>{{Cite news| issn = 0099-9660| pages = –4| last = Lavin| first = Douglas| title = France's Fimalac Purchases Fitch From Van Kampen| work = [[The Wall Street Journal]]| date = October 17, 1997| id = {{ProQuest|398738137}}}}</ref> In 2000, Fitch acquired both Chicago-based [[Duff & Phelps]] Credit Rating Co. (April)<ref>{{Cite web|date=March 8, 2000|title=Fitch Acquires Duff & Phelps In Latest Credit-Rating Union|url=https://www.wsj.com/articles/SB952438402753004916#:~:text=Fitch%20IBCA%2C%20the%20nation's%20third,million%2C%20or%20%24100%20a%20share.&text=Both%20Moody's%20and%20Standard%20%26%20Poor's,all%20bond%20deals%2C%20analysts%20estimate.|access-date=November 9, 2020|website=[[The Wall Street Journal]]}}</ref> and [[Thomson Financial]] BankWatch (December).


Fitch Ratings is the smallest of the "big three" NRSROs, covering a more limited share of the market than S&P and Moody's, though it has grown with acquisitions and frequently positions itself as a "tie-breaker" when the other two agencies have ratings similar, but not equal, in scale.
Fitch Ratings is the third largest [[NRSRO]] rating agency, covering a more limited share of the market than S&P and Moody's, though it has grown with acquisitions and frequently positions itself as a "tie-breaker" when the other two agencies have ratings similar, but not equal, in scale.<ref>{{cite news |title=FACTBOX: List of 10 rating agencies recognized by U.S. SEC |url=https://www.reuters.com/article/us-usa-ratings-competition-factbox-idUSTRE55N4X220090624/ |access-date=5 January 2024 |publisher=Reuters |date=24 June 2009}}</ref>


In September 2011, Fitch Group announced the sale of Algorithmics (risk analytics software) to [[IBM]] for $387 million.{{Citation needed|date=March 2020}} The deal closed on October 21, 2011.{{Citation needed|date=March 2020}}
In September 2011, Fitch Group announced the sale of [[Algorithmics Inc.|Algorithmics]] (risk analytics software) to [[IBM]] for $387 million.<ref>{{cite news |title=IBM Buying Algorithmics for $387M |url=https://www.tradersmagazine.com/departments/brokerage/ibm-buying-algorithmics-for-387m/ |access-date=5 January 2024 |work=Traders Magazine |date=1 September 2011}}</ref>

In June 2022, Fitch Group acquired [[GeoQuant]], an [[Artificial intelligence|AI]]-driven data and technology company.<ref>{{Cite web |date=June 22, 2022 |title=Fitch Group Acquires GeoQuant |url=https://www.themiddlemarket.com/latest-news/fitch-group-acquires-geoquant |access-date=June 23, 2022 |website=www.themiddlemarket.com |language=en-US}}</ref>


== Investment scale ==
== Investment scale ==
{{Unreferenced section|date=November 2024}}
Fitch Ratings' long-term [[credit rating]]s are assigned on an alphabetic scale from 'AAA' to 'D', first introduced in 1924 and later adopted and licensed by [[S&P]]. Like S&P, Fitch also uses intermediate +/&minus; modifiers for each category between AA and CCC (e.g., AA+, AA, AA&minus;, A+, A, A&minus;, BBB+, BBB, BBB&minus;, etc.).
Fitch Ratings' long-term [[credit rating]]s are assigned on an alphabetic scale from 'AAA' to 'D', first introduced in 1924 and later adopted and licensed by [[S&P]]. Like S&P, Fitch also uses intermediate +/&minus; modifiers for each category between AA and CCC (e.g., AA+, AA, AA&minus;, A+, A, A&minus;, BBB+, BBB, BBB&minus;, etc.).


'''Investment grade'''
'''Investment grade'''
* '''AAA''' : the best quality companies, reliable and stable
* '''AAA:''' the best quality companies, reliable and stable
* '''AA''' : quality companies, a bit higher risk than AAA
* '''AA:''' quality companies, a bit higher risk than AAA
* '''A''' : economic situation can affect finance
* '''A:''' economic situation can affect finance
* '''BBB''' : medium class companies, which are satisfactory at the moment
* '''BBB:''' medium-class companies, which are satisfactory at the moment


'''Non-investment grade'''
'''Non-investment grade'''
* '''BB''' : more prone to changes in the economy
* '''BB:''' more prone to changes in the economy
* '''B''' : financial situation varies noticeably
* '''B:''' financial situation varies noticeably
* '''CCC''' : currently vulnerable and dependent on favorable economic conditions to meet its commitments
* '''CCC:''' currently vulnerable and dependent on favorable economic conditions to meet its commitments
* '''CC''' : highly vulnerable, very speculative bonds
* '''CC:''' highly vulnerable, very speculative bonds
* '''C''' : highly vulnerable, perhaps in bankruptcy or in areas but still continuing to pay out on obligations
* '''C:''' highly vulnerable, perhaps in [[bankruptcy]] or in [[arrears]], but still continuing to pay out on obligations
* '''D''' : has defaulted on obligations and Fitch believes that it will generally default on most or all obligations
* '''D:''' has [[Default (finance)|defaulted]] on obligations, and Fitch believes that it will generally default on most or all obligations
* '''NR''' : not publicly rated
* '''NR:''' not publicly rated


== Short-term credit ratings ==
== Short-term credit ratings ==
Line 70: Line 78:
==Criticism==
==Criticism==
{{See also|Credit rating agency#Criticism}}
{{See also|Credit rating agency#Criticism}}
The main [[credit rating agencies]], including Fitch, were accused of misrepresenting the risks associated with mortgage-related securities, which included the CDO market. There were large losses in the [[collateralized debt obligation]] (CDO) market that occurred despite being assigned top ratings by the CRAs.
The main [[credit rating agencies]], including Fitch, were accused of misrepresenting the risks associated with mortgage-related securities, which included the [[collateralized debt obligation]] (CDO) market. There were large losses in the CDO market that occurred despite being assigned top ratings by the CRAs.


For instance, losses on $340.7 million worth of collateralized debt obligations (CDO) issued by [[Credit Suisse Group]] added up to about $125 million, despite being rated AAA by Fitch.<ref name="cdo">{{Citation
For instance, losses on $340.7 million worth of collateralized debt obligations (CDO) issued by [[Credit Suisse Group]] added up to about $125 million, despite being rated AAA by Fitch.<ref name="cdo">{{Citation
| last = Tomlinson
| last1 = Tomlinson
| first = Richard
| first1 = Richard
| author-link =
| last2 = Evans
| last2 = Evans
| first2 = David
| first2 = David
| author2-link =
| title = CDOs mask huge subprime losses, abetted by credit rating agencies
| title = CDOs mask huge subprime losses, abetted by credit rating agencies
| newspaper = International Herald Tribune
| newspaper = International Herald Tribune
| pages =
| date = June 1, 2007
| date = 2007-06-01
| url = http://www.iht.com/articles/2007/05/31/bloomberg/bxinvest.php}}</ref>
| url = http://www.iht.com/articles/2007/05/31/bloomberg/bxinvest.php}}</ref>
However, differently from the other agencies, Fitch has been warning the market on the [[constant proportion debt obligation]]s (CPDO) with an early and pre-crisis report highlighting the dangers of CPDO's.<ref name="cpdo">{{Citation
However, differently from the other agencies, Fitch was warning the market on the [[constant proportion debt obligation]]s (CPDO) with an early and pre-crisis report highlighting the dangers of CPDOs in 2007.<ref name="cpdo">{{Citation
| last = Linden
| last1 = Linden
| first = Alexandre
| first1 = Alexandre
| last2 = Neugebauer
| last2 = Neugebauer
| first2 = Matthias
| first2 = Matthias
Line 96: Line 101:
| first5 = Rachel
| first5 = Rachel
| title = First Generation CPDO: Case Study on Performance and Ratings
| title = First Generation CPDO: Case Study on Performance and Ratings
| date = 2007-04-18
| date = April 18, 2007
| url = http://www.defaultrisk.com/pp_crdrv141.htm}}</ref>
| url = http://www.defaultrisk.com/pp_crdrv141.htm}}</ref>


== See also ==
== See also ==
* [[FIMALAC]]
* [[FIMALAC]]
* [[Kroll Bond Rating Agency]]
* Kroll Bond Rating Agency
* [[List of countries by credit rating]]
* [[List of countries by credit rating]]
* [[Moody's Investors Service]]
* [[Moody's Investors Service]]
Line 108: Line 113:


==References==
==References==
{{reflist}}
{{Reflist}}


==External links==
==External links==
* [http://www.fitchratings.com/ Fitch Ratings]
* {{official website|https://www.fitchratings.com/}}
* [http://www.fitchsolutions.com/ Fitch Solutions]
* [https://www.fitchsolutions.com/ Fitch Solutions]
* [https://www.fitchlearning.com/ Fitch Learning]
* [https://www.fitchlearning.com/ Fitch Learning]
* [https://web.archive.org/web/20070927160034/http://db.riskwaters.com/public/showPage.html?page=209190 U.S. Credit: Fitch Ratings]
* [https://web.archive.org/web/20070927160034/http://db.riskwaters.com/public/showPage.html?page=209190 U.S. Credit: Fitch Ratings]
Line 118: Line 123:
{{Hearst}}
{{Hearst}}
{{NRSRO}}
{{NRSRO}}
{{Authority control}}


[[Category:Credit rating agencies]]
[[Category:Credit rating agencies]]
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[[Category:Companies based in New York City]]
[[Category:Companies based in New York City]]
[[Category:Financial services companies based in New York City]]
[[Category:Financial services companies based in New York City]]
[[Category:1914 establishments in New York (state)]]
[[Category:1914 establishments in New York City]]

Latest revision as of 21:30, 9 November 2024

Fitch Ratings Inc.
Company typeSubsidiary
IndustryFinancial services
Founded1914; 110 years ago (1914)
FounderJohn Knowles Fitch
Headquarters
New York City, New York, U.S. and London, England, UK
Key people
  • Paul Taylor (CEO of Fitch Group
  • Ian Linnell (president of Fitch Ratings and Fitch Ratings Inc.
  • Brian Filanowski (president of Fitch Solutions)
  • Tracey Perini (CFO)
RevenueIncrease $1.7 Billion [1]
Number of employees
5,000 (approximate)
ParentHearst Corporation[2]
Websitefitchratings.com

Fitch Ratings Inc. is an American credit rating agency. It is one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission and is considered as being one of the "Big Three credit rating agencies",[3] along with Moody's and Standard & Poor's.

History

[edit]

Fitch Ratings is dual headquartered in New York and London.[4] Hearst owns 100 percent of the company following its acquisition of an additional 20 percent for $2.8 billion on April 12, 2018.[2] Hearst had owned 80 percent of the company after increasing its ownership stake by 30 percent on December 12, 2014, in a transaction valued at $1.965 billion. Hearst's previous equity interest was 80 percent following expansions on an original acquisition of 20 percent interest in 2006.[5][6]

Hearst had jointly owned Fitch with FIMALAC SA, which held 20 percent of the company until the 2018 transaction. Fitch Ratings and Fitch Solutions are part of the Fitch Group.

The firm was founded by John Knowles Fitch on December 24, 1914, in New York City as the Fitch Publishing Company. In 1989, the company was acquired by a group including Robert Van Kampen.[7] In 1997, Fitch was acquired by FIMALAC and was merged with London-based IBCA Limited, a FIMALAC subsidiary.[8] In 2000, Fitch acquired both Chicago-based Duff & Phelps Credit Rating Co. (April)[9] and Thomson Financial BankWatch (December).

Fitch Ratings is the third largest NRSRO rating agency, covering a more limited share of the market than S&P and Moody's, though it has grown with acquisitions and frequently positions itself as a "tie-breaker" when the other two agencies have ratings similar, but not equal, in scale.[10]

In September 2011, Fitch Group announced the sale of Algorithmics (risk analytics software) to IBM for $387 million.[11]

In June 2022, Fitch Group acquired GeoQuant, an AI-driven data and technology company.[12]

Investment scale

[edit]

Fitch Ratings' long-term credit ratings are assigned on an alphabetic scale from 'AAA' to 'D', first introduced in 1924 and later adopted and licensed by S&P. Like S&P, Fitch also uses intermediate +/− modifiers for each category between AA and CCC (e.g., AA+, AA, AA−, A+, A, A−, BBB+, BBB, BBB−, etc.).

Investment grade

  • AAA: the best quality companies, reliable and stable
  • AA: quality companies, a bit higher risk than AAA
  • A: economic situation can affect finance
  • BBB: medium-class companies, which are satisfactory at the moment

Non-investment grade

  • BB: more prone to changes in the economy
  • B: financial situation varies noticeably
  • CCC: currently vulnerable and dependent on favorable economic conditions to meet its commitments
  • CC: highly vulnerable, very speculative bonds
  • C: highly vulnerable, perhaps in bankruptcy or in arrears, but still continuing to pay out on obligations
  • D: has defaulted on obligations, and Fitch believes that it will generally default on most or all obligations
  • NR: not publicly rated

Short-term credit ratings

[edit]

Fitch's short-term ratings indicate the potential level of default within a 12-month period.

  • F1+  : best quality grade, indicating exceptionally strong capacity of obligor to meet its financial commitment
  • F1  : best quality grade, indicating strong capacity of obligor to meet its financial commitment
  • F2  : good quality grade with satisfactory capacity of obligor to meet its financial commitment
  • F3  : fair quality grade with adequate capacity of obligor to meet its financial commitment but near term adverse conditions could impact the obligor's commitments
  • B  : of speculative nature and obligor has minimal capacity to meet its commitment and vulnerability to short term adverse changes in financial and economic conditions
  • C  : possibility of default is high and the financial commitment of the obligor are dependent upon sustained, favorable business and economic conditions
  • D  : the obligor is in default as it has failed on its financial commitments.

Fitch Solutions

[edit]

Launched in 2008, Fitch Solutions offers a range of fixed-income products and professional development services for financial professionals. The firm also distributes Fitch Ratings' proprietary credit ratings, research, financial data, and analytical tools.[citation needed]

Criticism

[edit]
See also: Credit rating agency § Criticism

The main credit rating agencies, including Fitch, were accused of misrepresenting the risks associated with mortgage-related securities, which included the collateralized debt obligation (CDO) market. There were large losses in the CDO market that occurred despite being assigned top ratings by the CRAs.

For instance, losses on $340.7 million worth of collateralized debt obligations (CDO) issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Fitch.[13] However, differently from the other agencies, Fitch was warning the market on the constant proportion debt obligations (CPDO) with an early and pre-crisis report highlighting the dangers of CPDOs in 2007.[14]

See also

[edit]

References

[edit]
  1. ^ "2011 Fiscal". FIMALAC. Archived from the original on September 27, 2018. Retrieved March 26, 2012.
  2. ^ a b "Fitch Group Becomes a Wholly-Owned Hearst Business". hearst.com. Retrieved April 12, 2018.
  3. ^ Blumenthal, Richard (May 5, 2009). "Three credit rating agencies hold too much of the power". Juneau Empire. Archived from the original on November 1, 2011. Retrieved March 19, 2018.
  4. ^ "Sale of 10% of Fitch Group to Hearst" (PDF). Archived (PDF) from the original on February 20, 2015.
  5. ^ Hufford, Austen (April 12, 2018). "Hearst Takes Full Ownership of Fitch Group". The Wall Street Journal. Retrieved January 6, 2024.
  6. ^ Barr, Alistair (February 9, 2012). "Hearst buys another 10 percent of Fitch for $177 million". Reuters. Retrieved January 6, 2024.
  7. ^ "Group Buys Fitch Investors". Wall Street Journal, Eastern edition; New York, N.Y. New York, N.Y., United States, New York, N.Y. April 21, 1989. p. 1. ISSN 0099-9660. Retrieved May 9, 2018 – via ProQuest.
  8. ^ Lavin, Douglas (October 17, 1997). "France's Fimalac Purchases Fitch From Van Kampen". The Wall Street Journal. pp. –4. ISSN 0099-9660. ProQuest 398738137.
  9. ^ "Fitch Acquires Duff & Phelps In Latest Credit-Rating Union". The Wall Street Journal. March 8, 2000. Retrieved November 9, 2020.
  10. ^ "FACTBOX: List of 10 rating agencies recognized by U.S. SEC". Reuters. June 24, 2009. Retrieved January 5, 2024.
  11. ^ "IBM Buying Algorithmics for $387M". Traders Magazine. September 1, 2011. Retrieved January 5, 2024.
  12. ^ "Fitch Group Acquires GeoQuant". www.themiddlemarket.com. June 22, 2022. Retrieved June 23, 2022.
  13. ^ Tomlinson, Richard; Evans, David (June 1, 2007), "CDOs mask huge subprime losses, abetted by credit rating agencies", International Herald Tribune
  14. ^ Linden, Alexandre; Neugebauer, Matthias; Schiavetta, John; Zelter, Jill; Hardee, Rachel (April 18, 2007), First Generation CPDO: Case Study on Performance and Ratings
[edit]
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