Category: Agencies

Bank buys shares in the rating agency, days later the rating agency recommends bank stocks and bank bonds.

Equifax Inc. announced a definitive agreement to acquire Boa Vista Serviços, the second largest credit bureau in Brazil.

S&P Global unveiled today its new strategic direction and growth targets at its 2022 Investor Day in New York. The event is the first Investor Day for the combined Company, following the completion of S&P Global’s merger with IHS Markit earlier this year, and the first for the Company in four years. The Company will…

Moody’s Corporation today announced results for the third quarter of 2022 and updated its outlook for full year 2022. It happened as it had to: While the low interest rate policy resulted in a firework display of bond issues up to the end of 2021, the reluctance of issuers is now becoming noticeable. Inflation with…

A company that wields greater economic Power over Russia has a greater responsibility to take action. Or, put another way, if such a company doesn’t withdraw, it is supporting Russia more than a company with less Power. This is the verdict of a rating agency specializing in these questions.

S&P Global share price collapsed today. The background to this is the company’s outlook, which has already been significantly corrected after just one month. What reads like bad news also contains a hidden positive signal.

The embarrassment for European credit rating agencies is certain even before the voting has started. “US Securitzation Awards 2022 – voting now live!” This is the call from GlobalCapital, inviting market participants to vote for the best rating agency when it comes to securitization. This is the choice:

S&P Global Ratings reported a revenue decrease of 15% to $868 million in the first quarter of 2022. Transaction revenue decreased 31% to $404 million. Transaction revenue was negatively impacted by a year-over-year decrease in debt issuance across all categories, but particularly within high-yield, which decreased approximately 68% year-over-year. Non-transaction revenue increased 7% to $464…

DBRS Morningstar will benefit from LCD data and news, supporting credit analysts and credit investor workflows. S&P Global Market Intelligence’s Leveraged Commentary & Data (LCD) combines real-time news, data, tools, and analysis on the U.S. and European leveraged loan, high-yield bond, distressed, and investment-grade corporate markets. Produced by S&P Global’s own team of experienced journalists…

A quant technology provider, SigTech, has analysed data on the global hedge fund industry and identified key trends around growth, new launches and investment strategies. According to their findings and couting 27,255 active hedge funds globally, 67% of all hedge funds globally and 70% of all new fund launches are US-based Crypto hedge funds appear…

In 1991 Moody’s presented itself in full-page advertisements as the first German credit rating agency. Moody’s Investors Service now achieves an average operating margin of over 60% worldwide. However, after three decades, the German-language website of this leading international agency is still in a deplorable state. After so many years, Moody’s German website still does…

When people in Africa spoke of an independent credit rating agency – independent of the three leading US rating giants – they were talking about “Global Credit Rating” from South Africa, which had made a name for itself on the entire African continent. GCR is a leading credit rating agency in Africa with offices across…

Rating agencies have been the subject of a number of controversies since the late 1990s, writes Norbert Gaillard in his latest book “Les agences de notation“, published in Éditions La Decouverte, Paris 2022. The Asian crisis of 1997/98, the Enron scandal of 2001 , the debacle on the subprime market in 2007/2008 and the sovereign…

The excessive regulation of rating agencies in the European Union (EU) has failed to achieve its goal. The dominance of US rating agencies remains. Their ratings are practically the only decisive factor for the allocation of the economic resource “capital” in Europe. The three leading US agencies S&P Global Ratings Europe, Moody’s Investors Service and…

KBRA, a full-service global rating agency committed to innovation and integrity, announced today it has entered a deal with leading growth-oriented private equity firm Parthenon Capital Partners who will acquire a majority stake in the company. KBRA is a global credit rating agency found­­ed in the wake of the global financial crisis. “When KBRA was…

Moody’s Corporation posted an updated management presentation for investors on its website, ir.moodys.com, reflecting certain information regarding the Moody’s results for the three months ended September 30, 2021, as well as updated full-year 2021 guidance as of October 28, 2021, and its posting is provided pursuant to Regulation FD. Senior management is expected use this…

Nearly one in three (30%) pension funds and institutional investors say their use of ESG rating agencies will increase dramatically over the next three years, and a further 38% believe it will increase slightly. This is according to new research from quant technologies provider SigTech, who surveyed institutional investors across North America, Europe and Asia…

Moody’s Corporation has acquired Bogard AB, a leading provider of data and information on politically exposed persons (PEPs) in the Nordic region. The acquisition advances Moody’s ability to help customers perform Know Your Customer (KYC) screening and research to address financial crime. Bogard covers over 17,000 PEPs, relatives, and close associates across Sweden, Norway, Denmark,…

“The EU requirements for providers of credit ratings have not broken the dominance of the three big agencies S&P, Moody’s and Fitch”, says a story published in Germany’s only stock exchange daily, Börsen-Zeitung. in Frankfurt on October 28, 2021. The author, Detlef Fechtner, reports on a speech deliverd by Steffen Kern, Chief Economist and Head…

S&P Global reported third quarter 2021 results with revenue of more than $ 2 billion, an increase of 13% compared to the same period last year. Every segment was delivering revenue growth. Net income increased 75% to $797 million. Diluted earnings per share increased 75% to $3.30 primarily due to the debt tender premium and…

Some surprising observations Many Internet users do not bother to memorize the exact domain of a website, but simply enter a clear keyword into the Google search engine in order to be able to simply click on the desired result and visit the desired website. The displayed search results are therefore of great importance for…

2021 Securitization Awards. Kroll Bond Rating Agency (KBRA), a global full-service rating agency, was named “Securitization Rating Agency of the Year” by GlobalCapital at its U.S. Securitization Awards 2021. “KBRA was founded in 2010 to set a standard of excellence and integrity, and we have been loyal to this notion since then,” Eric Thompson, Global…

URA Research GmbH is once again coming up with new insights into bonds. After reviewing and analyzing the financial reports published in 2021, the URA ratings for 13 bonds were confirmed. For 2 bonds (FC Schalke 04 III and Katjes III) the assessment has deteriorated. The 4th bond from Schalke 04 and the 1st bond…

Auditors have been making double-digit million losses for years. At Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft (EY) in Germany, “equity” is on the assets side, namely as a “deficit not covered by equity” in the amount of € 62,715,000. The provisions, liabilities, deferred income as well as deferred taxes and fiduciary obligations exceed the company’s assets…

The rating of a local rating agency does not exempt you from the responsibility to form your own judgment

A Complicated Choice Between Conflicts of Interest. The rating of an independent credit rating agency is a valuable source of information also for the supervisory board of a company, especially for the supervisory board of a bank. The thoroughness of the analysis by credit rating analysts helps to understand the external view onto the company…