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CRIF Acquires 30% Equity Stake in Economic Research Company Nomisma

CRIF will enter with a 30% stake in Nomisma’s share capital, becoming the largest shareholder as well as the only shareholder-industrial partner in the Bologna-based economic and industrial research company. The transaction involves the acquisition of a minority stake aimed at future industrial partnerships. The Bologna-based economic research company will maintain complete and unchanged operational independence. The new structure will ... Read More »

FINTECH is Changing the Credit and Credit Information Landscape

FINTECH the disrupting force in lending and credit information   FINTECH, it stands for financial technology, is a new interesting concept –  its all about lending without having to use a credit bureau and being outside banking regulations.  A large amount of capital is already flowing into this sector.  It has yet to be seen whether the performance data of ... Read More »

Moody’s Appoints Scott Kenney SVP

Moody’s Corporation announced that Scott Kenney has been appointed Senior Vice President and General Auditor of the Corporation.   Mr. Kenney will oversee the independent assessment of Moody’s governance, risk management and internal control processes. Mr. Kenney, who joins Moody’s from Deloitte’s Governance Regulatory and Risk Strategies practice, has more than 19 years of advisory experience in internal control design and ... Read More »

Harold McGraw III to Become Chairman Emeritus of McGraw Hill Financial

The Board of Directors of McGraw Hill Financial (NYSE: MHFI) today announced that Harold (“Terry”) McGraw III informed the Board of his decision not to stand for re-election as a director at the Annual Meeting of Shareholders scheduled to take place on April 29, 2015.  In recognition of Mr. McGraw’s many significant contributions to McGraw Hill Financial, the Board of Directors will confer upon ... Read More »

Moody’s to Acquire Equilibrium – Enters Peru

Moody’s Corporation announced that it has agreed to acquire Equilibrium, a leading provider of credit rating and research services in Peru and other countries in Latin America. Based in Peru, Equilibrium has operated since 1996. Following the acquisition, Equilibrium will continue to issue domestic ratings in Peru and Panama with an independent analytical and rating committee process. Renzo Barbieri will ... Read More »

Standard & Poor’s Ratings Services Names Thomas Bayer Chief Information Officer

Standard & Poor’s Ratings Services announced the appointment of Thomas Bayer as Chief Information Officer.  Based in New York, Mr. Bayer reports to Neeraj Sahai, President, and is a member of the Standard & Poor’s Executive Committee. In this role, Mr. Bayer has responsibility for shaping the firm’s business systems’ direction and delivering its business systems worldwide.  He also manages ... Read More »

US Department of Justice (DOJ) Probes Moody’s Investors Service

Now that McGraw Hill Financial & S&P have settled with the US Department of Justice (DOJ)  shedding US$1.4 billion the DOJ is now turning screws on Moody’s.  However according to the Wall Street Journal DOJ officials in recent months have quietly met with multiple former executives of Moody’s Investors Service to discuss ratings of complex securities before the crisis, according to people ... Read More »

McGraw Hill Financial and S&P Ratings Reach Settlement with DOJ, 19 States, District of Columbia and CalPERS

Settlement includes payment of US$687.5 million to the US Department of Justice (DOJ), 687.5 million to the States and the District of Columbia.  The settlement with CalPERS is US$125 million.  In total McGraw Hill Financial is paying out 1.5bn.   McGraw Hill Financial, Inc. (NYSE: MHFI) (the “Company”) and its subsidiary Standard & Poor’s Financial Services LLC (“S&P Ratings) have reached a settlement ... Read More »

ICRA NAMES NARESH TAKKAR AS CEO OF GROUP ICRA

ICRA Limited appointed Naresh Takkar CEO of Group ICRA, succeeding PK Choudhury, effective immediately. Mr. Takkar will continue to hold his current title as Managing Director and CEO of ICRA, Limited. “Mr. Takkar has provided strong leadership to ICRA over a career spanning more than 20 years with the company, and he will be able to leverage his knowledge and ... Read More »

Standard & Poor’s Ratings Services Reaches Settlements with SEC and Attorneys General of New York and Massachusetts

Standard & Poor’s Ratings Services (S&P Ratings), a business unit of McGraw Hill Financial, Inc. (NYSE: MHFI) has reached a settlement with the U.S. Securities and Exchange Commission (SEC) to resolve the SEC’s investigation into six U.S. conduit/fusion commercial mortgage-backed securities (CMBS) transactions rated by S&P Ratings in 2011 and two additional U.S. conduit/fusion CMBS transactions from that period, the ... Read More »

Canadian Credit Rating Agency DBRS to Be Sold

DBRS, the largest credit rating company in Canada, will be sold to a group of investors led by the private equity firms Carlyle Group and Warburg Pincus. Founded in 1976 as Dominion Bond Rating Service, DBRS has a much smaller market share than the “big three” credit rating agencies, Standard & Poor’s, Moody’s Investors Service and Fitch. The sale to ... Read More »

Guide to the Global Rating Market

Ratingplatform have released a ‘Guide to the Global Rating Market’.   Following the release of the European Rating Market, Ratingplatform have now extended their research to produce the first global guide on Credit Rating Agencies.  While Ratingplatform have identified more 100+ agencies globally, the report outlines the business profile, coverage, registration status (incl. ECAI and mapping when available) for currently about ... Read More »