StageCorporate Majority | Acquired
About Fitch Group
Fitch Group provides financial information services. The company develops fixed income products and services, as well as provides credit, corporate, and structured finance programs. Fitch Group offers Fitch Ratings which provides credit ratings and research, Fitch Solutions which provides credit market data, analytical tools, and risk services, Fitch Learning, which provides learning and development solutions for the global financial services industry and Business Monitor which provides country risk and industry analysis. The company was founded in 1913 and is based in New York, New York.
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Latest Fitch Group News
Mar 15, 2023
March 15, 2023 Getty - Advertisement - Europe’s automakers pleased investors with strong profit reports for 2022 but will raise eyebrows as some experts see worsening earnings prospects this year. The consensus view is that sales in Western Europe will rise to around 11 million this year from last year, but this is still severely below the pre-Covid market tally of 14.29 million in 2019. microscope. - Advertisement - Fitch Ratings points to several large manufacturers such as Stellantis, Mercedes and BMW, flush with cash, launching large share buy-back programmes, while Renault restored dividend after a gap of 3 years. Fitch expects overall profits to remain strong on subdued demand and falling raw material prices. “We expect profitability to remain solid, supported by lower available volumes due to transition to battery electric vehicles, suppressed demand and supply chain issues increasing pricing power for manufacturers. While we expect pricing conditions to become more challenging in 2023, especially in Europe, we believe that lower raw material prices and improvements in inventory management will still provide a cushion against a high inflation environment and weak consumer sentiment. should reduce, Fitch Group said in a statement. - Advertisement - That’s news for investment bank UBS, which sees a 40% drop in earnings per share this year as a big market thanks to pricing weakness. Tesla UBS said an electric vehicle price war has begun, spreading to so-called “legacy” auto makers. “(Manufacturers) will face difficulties in maintaining price discipline and high mix, while with EBIT (earnings before interest and tax) expected to be only slightly above flat year-on-year, reflecting lower financial support income and suffering marginally from higher costs. We are cautious on all MAS (manufacturers) for 2023, while thanking more cycle-resistant luxury names and Tesla for cost and technology leadership, UBS said in a report. Germany’s IFO institute is also picking up negative vibes in its March report. “(Automotive) manufacturers in particular assess their current situation significantly worse than last month. This is probably due to the fact that buyers are very cautious at the moment,” said IFO director Professor Oliver Falk. LMC Automotive’s regular monthly sales report slightly raised its Western Europe forecast for 2023 to 7.9% to 10.96 million sedans and SUVs, up from last month’s forecast of 7.8%. But it recognizes that the market has some worrying characteristics. “We still see supply constraints dominating this year. Underlying demand also faces challenges, with many Western European countries currently facing recession and subsequent weak growth. In recent months however, consumer sentiment has become a bit less pessimistic, and with orders backlogged, we still see a rapid recovery in production this year supported by demand. However, it is clear that the rising cost of living and the high levels of inflation observed across the region pose a downside risk to our forecasts,” the report said. Meanwhile, turning to the profit side, LMC analyst Peter Kelly points to some ominous developments. in a report titled “A Change in Automotive Fortunes Is Coming” Kelly says the boom in new vehicle prices in the US and Europe and overall manufacturer profitability is eroding. “At some point, possibly later this year, though unlikely before, rising supply should meet falling demand,” Kelly said. Kelly is skeptical of manufacturers who say they’ll never return to bad old ways of sacrificing profits for volume. “We are not convinced by this argument and expect market competition to become a major factor once the supply-demand imbalance is eliminated. Significant market share loss to an aggressive competitor seeking to deliver more quickly and/or at better prices” It will take a brave one (manufacturer) to stand up for and preside over. It will only take one or two big ones (manufacturer) to change any market – and the notion that the industry can discipline itself without collusion is seriously flawed. will attract regulatory attention, may be largely dismissed,” Kelly said. Credit: www.forbes.com /
Fitch Group Frequently Asked Questions (FAQ)
When was Fitch Group founded?
Fitch Group was founded in 1913.
Where is Fitch Group's headquarters?
Fitch Group's headquarters is located at 33 Whitehall Street, New York.
What is Fitch Group's latest funding round?
Fitch Group's latest funding round is Corporate Majority.
How much did Fitch Group raise?
Fitch Group raised a total of $769M.
Who are the investors of Fitch Group?
Investors of Fitch Group include Hearst.
Who are Fitch Group's competitors?
Competitors of Fitch Group include RealRate and 1 more.
Compare Fitch Group to Competitors
RealRate provides financial strength rankings of insurers through artificial intelligence. Insurance companies can purchase the RealRate seal of approval to show their customers their highly competitive market position. For insurance customers, financial strength is the most important indicator of return on their premiums paid. For brokers, its rating service allows for qualified and independent financial advice.
Credit Benchmark is an independent source of aggregated financial intelligence, representing the street's perspective on credit risk in publicly and privately held firms. The firm pools credit risk estimates from global banks, enabling them to view their own estimates in the context of a robust industry consensus, where interests are aligned. The Credit Benchmark platform offers full coverage of the entities that matter to banks, extending beyond sovereigns, banks and rated corporates into funds, emerging markets and the large unrated universe. The company currently produces estimates for probability of default (PD) and loss given default (LGD), which are critical metrics for risk management and the financial markets more broadly.
Moody's (NYSE: MCO) provides credit ratings, credit, and economic-related research, data, and analytical tools, risk management software, quantitative credit risk measures, credit portfolio management solutions, training, and financial credentialing and certification services. The company was founded in 1909 and is based in New York, New York.
S&P Global (NYSE: SPGI) provides transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The Company's divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices, and S&P Global Platts. The company was founded in 1917 and is based in New York, New York.
Dun & Bradstreet (NYSE:DNB) provides business information and technology solutions. The Company's customers use these solutions in order to reduce credit risk, find profitable business partners, manage business relationships, and collect cash and receivables. Dun & Bradstreet's database contains information on public and private companies around the world.
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