Fitch Group
Financial Services Company and Company
Fitch reaffirms Saks issuer default ratingNEW YORK -- Fitch Ratings maintained the issuer default rating of Saks Inc. Wednesday and reaffirmed its outlook at negative. The ratings agency kept the company's B-, or junk, issuer default rating and said the retailer's operating... In this article: Saks Inc., Fitch, Cash flow, Recession, and NEW YORK |
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Reuters | 4 days ago
Fitch: Vietnam FX move positive, no ratings implication for now
...will help stabilise its finances, but the moves will have no immediate impact on its credit rating, a sovereign credit analyst with Fitch Ratings said on Wednesday. "The monetary tightening and exchange rate measures will help stabilise...
In this article: Fitch Ratings, Vietnam, Hong Kong, and Reuters
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UPDATE 1-Fitch cuts Jamaica ratings, sees debt restructuring
Adds details from Fitch statement, background) Fitch Ratings on Tuesday became the third agency to downgrade Jamaica's credit ratings this month, warning the country will likely have to restructure its "unsustainable" debt load. Delays...
In this article: Fitch, Jamaica, CCC, Moody's, Standard & Poor's, and International Monetary Fund
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AP Online | 4 days ago
Fitch predicts recovery for auto suppliers
...for U.S. auto suppliers in 2010 as sales rise and the companies realize benefits from significant cost-cutting this year. Fitch said Tuesday that some positive ratings actions could result in 2010. Fitch recently upgraded TRW...
In this article: Fitch, Tenneco Inc., U.S., Europe, NEW YORK, Brazil, Russia, and China
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Fitch says won't raise PKN unless it sells Mazeikiu
...Orlen's <PKNA.WA> rating to BBB from the current BB+ unless Poland's top oil refiner sells its underperforming Lithuanian unit Mazeikiu, Fitch directors said on Tuesday. "PKN is unlikely to recover to BBB level unless there is a fundamental...
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washingtonpost.com | 5 days ago
Fitch lowers Mexico's credit rating on oil decline
Fitch said decreased oil production has already accentuated economic problems in Mexico and output could continue to decline. Fitch said it lowered Mexico's foreign currency Issuer Default Rating to BBB from BBB+ and its local currency IDR...
In this article: Fitch, Mexico, Comercial Mexicana, Grupo Televisa, Felipe Calderon, Derivative, Futures contract, Revenue, and Treasury Department
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Mexico peso soars in wake of Fitch downgrade
In this article: Mexico, Standard & Poor's, Fitch, Recession, The Fed, Mexico City, Brazil, Credit default swap, Axtel, and America Movil
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UPDATE 1-Fitch cuts Mexico ratings, says tax hikes not enough
Adds details from Fitch statement, background) Fitch Ratings on Monday cut Mexico's sovereign credit ratings by one notch, saying recently approved tax increases were not enough to address the fiscal deterioration in public accounts.
In this article: Fitch, Mexico, Tax, Revenue, Standard & Poor's, and Felipe Calderon
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Fitch raises rating outlook for Flowserve
...through most of 2008," Fitch said. Flowserve, based in Irving, Texas, also is focused on maintaining a strong balance sheet that will help it compete for projects, Fitch said. The company's shares fell 43 cents to end Friday at $101.57.
In this article: Fitch, Flowserve Corp., Balance sheet, Chicago, Cash flow, E mail, Irving, and Texas
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Fitch boosts outlook on Bon-Ton Stores
NEW YORK -- Fitch Ratings raised its outlook for Bon-Ton Stores Inc. on Friday from "Negative" to "Stable," citing the department store operator's reworked credit agreement. The amended facility and a new term loan also prompted Moody's...
In this article: Bon-Ton, Fitch, Moody's, Lien, Bergner's, Herberger's, Boston Store, Younkers, and York
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Fitch upgrades Tenneco ratings on better earnings
NEW YORK -- Fitch Ratings on Thursday upgraded the issuer default rating on auto parts maker Tenneco Inc. by one notch thanks to cost-cutting, a better auto-making environment and a capital-raising effort that should reduce debt. The...
In this article: Fitch, Tenneco Inc., Lien, Amortization, Tax, Lake Forest, Ill., and NEW YORK
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Description from Wikipedia:
The Fitch Group (technically, Fitch, Inc.) is a financial corporation whose divisions include Fitch Solutions, an advisory firm offering products and services to the financial industry, established in January 2008 partly following the criticism on Rating Agencies; Algorithmics Inc., the risk management software vendor and research firm; and Fitch Ratings, Ltd. Fitch Ratings is an international credit rating agency dual-headquartered in New York City and London. It 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.
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, and is majority-owned by Fimalac (From Wikipedia.fr: Fimalac), a French holding company. In 2000 Fitch acquired both Chicago, Illinois-based Duff & Phelps Credit Rating Co. (April) and Thomson BankWatch (December). Fitch is the smallest of the "big three" NRSROs, covering a smaller 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 those other two agencies have ratings similar, but not equal, in scale.
Stephen W. Joynt is Chief Executive Officer of the Fitch Group. Joynt also serves as Chief Executive Officer of Algorithmics, Inc. and as President and Chief Executive Officer of Fitch Ratings.
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