Fitch Ratings

In 1914, John Knowles Fitch established the Fitch Publishing Company in New York City. He introduced a critical innovation for financial markets: the 'AAA' to 'D' rating scale, a system that would become an industry standard for assessing creditworthiness. The company operated as a publisher of financial statistics for decades. A major turning point came in 1997 when it was acquired by the French firm FIMALAC and merged with London's IBCA Limited. This move initiated a period of significant expansion. In 2000, Fitch solidified its position by acquiring Duff & Phelps Credit Rating Co. and Thomson BankWatch, establishing itself as a top rater of financial institutions. This growth attracted a major new partner. In 2006, Hearst Corporation acquired its first 20% stake in the company. Over the next twelve years, Hearst progressively increased its ownership, recognizing the value of Fitch's financial data and analysis. This culminated in April 2018, when Hearst purchased the remaining shares from FIMALAC for $2.8 billion, making Fitch Group a wholly-owned subsidiary and Hearst's largest single business. Today, Fitch stands as one of the "Big Three" credit rating agencies, a key player in global financial markets.