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Rating Services

New Credit Ratings Database Launched by the EU Watchdog

The European Union’s markets watchdog launched a free online database for investors and the general public to compare credit ratings from rival agencies as part of wider efforts to increase transparency and competition. The European Securities and Markets Authority (ESMA) supervises the 15 ratings agencies authorised to operate in the EU, a sector dominated by a so-called “Big Three” — ... Read More »

Hearst Raises Stake In Fitch Ratings To 50%

Hearst Corp agreed to buy another 10 percent of rating agency Fitch Group for $177 million as the media giant continues to diversify away from its newspaper foundations. Hearst bought the stake from France’s Fimalac SA (LBCP.PA). The two companies now each own 50 percent of Fitch, considered the third rating agency behind Moody’s Corp (MCO.N) and Standard & Poor’s, ... Read More »

Kroll Bond Rating Agency Releases Credit Union Rating Methodology

Kroll Bond Rating Agency’s Subscription Rating Service (SRS) published a new rating methodology for U.S. Credit Unions (non-corporate). A central feature of the new rating methodology is a revised statistical scoring system that was designed to improve the transparency of KBRA’s ratings and enhance ratings accuracy. The new scoring system was developed following a thorough analysis of credit union failures ... Read More »

McGraw-Hill Consolidated Revenues for 2011 Grew by 3% – Operating Income Grew by 1%

Standard & Poor’s Ratings: Revenue in the fourth quarter decreased by 8% to $434 million, reflecting a decline in global credit markets. Excluding $9 million for severance costs for a workforce reduction of approximately 30 positions, operating profit declined by 24% to $156 million compared to the same period in 2010. For the full-year 2011, revenue for Standard & Poor’s ... Read More »

Diversity in Credit Ratings and Opinions is Hard to Achieve

There is a European effort underway to reduce the high level of concentration in the credit rating industry.  This however is easier said than done.   The Chairman of DBRS (Canadian Bond Rating Agency) writes in a recent commentary to the Financial Times:  “The newly implemented regulatory framework for rating agencies in Europe allows for the establishment of new entrants; however, ... Read More »

CTRISKS Rating Limited China Reports Financial Stress in Clothing & Accessory and Real Estate Holding Sectors

CTRISKS Rating Limited (“CTRISKS”) publishes the corporate credit ratings Q4 2011 for listed companies in Greater China, covering mainland China, Taiwan and Hong Kong. The rating exercise assesses the creditworthiness of 4,687 listed companies. The continuous volatile market environment in 2011 has been creating huge stress on many corporations. The sectors suffering most from the credit quality deterioration are Clothing ... Read More »

CRIF Enters Credit Rating Business

CRIF Obtains European Registration as a Credit Rating Agency CRIF, Italy’s leading provider for credit risk management and lending solution will issue credit ratings on Italian companies.  CRIF has obtained Credit Rating Agency (CRA) registration from CONSOB and ESMA (the European Authority supervising securities and markets), in accordance with the EC Regulation 1060/2009 dated 16 September 2009, which regulates credit ... Read More »

Bertelsmann Foundation to Develop New Business Model for Sovereign Debt Rating

The Bertelsmann Foundation (Bertelsmann Stiftung), based in Germany, has announced that it is moving forward with a model for a nonprofit ratings agency. Over the coming months the foundation will work with a group of international experts to carry out a study outlining a new type of agency whose sole purpose will be to evaluate individual countries. The Bertelsmann Foundation ... Read More »

EU Commissioner Barnier Backtracks on Ratings Reform

European Regulators climb down on curbing credit rating agencies represents a political blow and shows how ill equipped regulators are to regulate the credit rating industry.  EU Commissioner Barnier had retracted under considerable pressure from his fellow commissioners as well as having to take significant heat from the financial press.   It was remarkable that in the latest round of regulatory ... Read More »

Moody’s Analytics Acquires Majority Stake in Copal Partners India

Moody’s Corporation announced that it has acquired a majority stake in the companies of Copal Partners. Copal’s companies are among the world’s leading providers of outsourced research and analytical services to institutional customers. The terms of the transaction were not disclosed. The acquisitions complement the broad array of research, data, software and education services offered by Moody’s Analytics, and Copal’s ... Read More »

Credit Information Services Revenues Rebound. Indices and Analytical Services Show Strong Double Digit Growth Rates, While Rating Services Declined In Q3.

What a difference three months make.   Moody’s ratings services in Q2 were up over 30%, now they are down 2% y-o-y in Q3.  Standard & Poor’s rating services were up 18% in Q2, now down 1% y-o-y basis in Q3. The double digit growth of indices and analytical services indicates an increasing value in benchmarking services and powerful analytics.   These ... Read More »

McGraw-Hill: Rating Services and Education Services Dent McGraw-Hill’s Q3 Revenue Growth

What a difference three months make!  Analytics, Information and Media lead with strong revenue growth.   Rating Services declined. “Overall, the business performed well despite challenging market conditions in global credit markets and historically low funding levels in the U.S. elementary-high school market. We are still on track for another year of growth in 2011, but we remain cautious over the ... Read More »

Moody’s Reports Revenue Growth of 4% for Q3 2011

Following impressive growth during the past four quarters Moody’s revenue engine stalled.  Global revenues for Moody’s Investor Service declined by 2%.  Global revenues for Moody’s Analytics was up by 16%.   Moody’s reported revenue of $531.3 million for the three months ended September 30, 2011, an increase of 4% from $513.3 million for the third quarter of 2010. Operating income for ... Read More »