These types of credit and/or institutions fall outside the traditional structures of financial supervision, exposing banks to a growing amount of risk that is for the most part hidden. By getting a portion of their credit off books, Chinese banks are able to comply with official loan quotas while in practice exceeding themWalker's World: The crisis deepens Sep 24, 2008
The fundamental economic and financial underpinning of the United States' AAA status remains strong despite the heated political debate over the role of government and how best to reduce the out-sized federal budget deficitMoody's, Fitch keep U.S. rating triple-A Aug 02, 2011
The loss resulted from a substantial level of expenses related to Riggs compliance with the Bank Secrecy Act and multiple investigations. The company incurred a $16 million fine (which remains subject to change) to the U.S. Department of Justice, reserved $8 million for litigation, and incurred $17 million in expenses related to the sale of its international businessesRiggs ratings lowered Feb 08, 2005
Further improvement in credit metrics is anticipated as the company repays maturing debt with available cash, which totaled $3.2 billion at Nov. 21, 2004Fitch gives Costco a positive outlook Jan 26, 2005
In a slightly more challenging market, the large builders will continue to buy private, mid-size companies, while some regional and multiregional homebuilders figure to expand into more markets and become more national buildersLarge homebuilders seen expanding Jan 03, 2005
The Fitch Group is a majority-owned subsidiary of FIMALAC, headquartered in Paris. Fitch Ratings, Fitch Solutions and Algorithmics, are part of the Fitch Group.
Dual-headquartered in New York and London with 51 offices worldwide, Fitch Ratings positions itself as a global rating agency dedicated to providing value beyond the rating through independent and prospective credit opinions, research and data. Fitch Ratings was one of the three Nationally Recognized Statistical Rating Organizations (NRSRO) designated by the U.S. Securities and Exchange Commission in 1975, together with Moody's and Standard & Poor's. It is one of the "Big Three credit rating agencies" (Standard & Poor's, Moody's Investor Service and Fitch Ratings).
The firm was founded by John Knowles Fitch on December 24, 1913 in New York City as the Fitch Publishing Company. It merged with London-based IBCA Limited in December 1997. In 2000 Fitch acquired both Chicago-based Duff & Phelps Credit Rating Co. (April) 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.