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Bond Rater Kroll Wants to Beef Up His Debt-Rating Venture with Acquisitions

Jules Kroll says he aims to beef up his debt-ratings venture through acquisitions, part of his bid to take on major rating firms like Standard & Poor’s Ratings Services.

In an interview with the Wall Street Journal, Julius Kroll, CEO of Kroll Bond Rating Agency Inc., said:  “It will take too long” to expand.  The strategy is to be a full-service rating agency and ultimately to be a global rating agency,” Mr. Kroll said the firm is primarily interested in “international” purchases, and plans to start rating European banks and asset-backed deals from the region by late 2013.

Connecticut sold $343 million in GO bonds last week, becoming the first municipal issuer to receive a Kroll bond rating (of AA).   State Treasurer Denise L. Nappier announced that her office sold $555 million of State General Obligation Bonds last week, attracting $1.7 billion in orders from institutional investors. Because demand exceeded the bonds available, the State was able to reduce interest rates in the final pricing, saving $1.35 million over the life of the bonds.

Source:  Kroll Bond Ratings

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