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Fitch Ratings Inc. is an American credit rating ... Hearst had owned 80 percent of the company after increasing its ownership stake by 30 percent on December 12, 2014 ...
In August 2011, S&P downgraded the long-held triple-A rating of US securities. [1] On August 1, 2023, Fitch downgraded its credit-rating of United States Treasuries from AAA to AA+, as S&P had twelve years earlier, leaving only Moody's to still assign its highest rating to the country's debt.
For Fitch, a bond is considered investment grade if its credit rating is BBB− or higher. Bonds rated BB+ and below are considered to be speculative grade, sometimes also referred to as "junk" bonds. [104] Fitch Ratings typically does not assign outlooks to sovereign ratings below B− (CCC and lower) or modifiers.
The conglomerate also owns several business-information companies, including Fitch Group and First Databank. [6] The company was founded by William Randolph Hearst, a newspaper owner most well known for use of yellow journalism. The Hearst family remains involved in its ownership and management. [7]
As of December 2012, S&P is the largest of the three, with 1.2 million outstanding ratings and 1,416 analysts and supervisors; [173] [175] Moody's has 1 million outstanding ratings and 1,252 analysts and supervisors; [173] [175] and Fitch is the smallest, with approximately 350,000 outstanding ratings, and is sometimes used as an alternative to ...
Marc Eugène Charles Ladreit de Lacharrière (born November 6, 1940) is the CEO of FIMALAC (a.k.a. Financière Marc de Lacharrière), once majority owner of credit rating agency Fitch Group from which it divested between 2015 and 2018, selling its stake to Hearst Corporation.
As a result, in October 1994, the Duff & Phelps's credit rating business, Duff & Phelps Credit Rating Co., was spun off to its shareholders and listed on the New York Stock Exchange. [10] In 2000, Duff & Phelps Credit Rating Co. was acquired by Fitch Group, which later eliminated the use of the Duff & Phelps name. [11]
Yet in 2015, Fitch Ratings assessed its financial strength still at 'A+' and gave it an 'A' for likelihood of default and senior unsecured rating. Finch stated that "lack of geographic diversification has historically kept HCSC out of the 'AA' rating category and that HCSC would be downgraded if it were no longer to market itself as a Blues ...