Fitch Ratings

Fitch Ratings Inc. is 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, and the three are commonly known as the "Big Three credit rating agencies".

Fitch Ratings is dual-headquartered in New York, USA, and London, UK. On April 12, 2012, Hearst increased their stake in the Fitch Group to 50%. Previously, Hearst owned a 40% stake in the company, while FIMALAC was the majority owner with 60% stake. Fitch Ratings and Fitch Solutions are part of the Fitch Group. It is a jointly owned subsidiary of Hearst Corporation and FIMALAC SA.

On December 12, 2014 Hearst Corporation announced that it will purchase from Fimalac S.A. at $1.965 billion an additional 30 percent interest in Fitch Group, bringing Hearst's equity interest to 80 percent. Fimalac will retain a 20 percent equity interest in Fitch Group. On the same day Fimalac announced that the deal also coprises provision that Fimalac CEO Mr. Marc Ladreit de Lacharrière remain Chairman of the Board of Directors of Fitch Group as well as Fimalac will hold 50% of votes within that Board until 2020.