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
with 50 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.
Stephen W. Joynt is chief executive officer