Fitch Group completes acquisition of VC-backed CreditSights

Fitch Group has closed its acquisition of CreditSights, a provider of independent credit research to the global financial community.

Fitch Group has closed its acquisition of CreditSights, a provider of independent credit research to the global financial community. No financial terms were disclosed. CreditSights was backed by BV Cornerstone Ventures LP and QKA Ventures LP. Fitch Group, which is owned by Hearst, is a provider of financial information services.

PRESS RELEASE

Wed 05 May, 2021 – 9:36 AM ET

Fitch Ratings-New York/Chicago-05 May 2021: Fitch Group, a global leader in financial information services owned by Hearst, today announced that it has completed its acquisition of CreditSights, Inc., a leading provider of independent credit research to the global financial community.

Fitch Group announced its agreement to acquire CreditSights from the founders, along with other shareholders and investors, on 14 January 2021.

CreditSights will become part of Fitch Solutions, which is a leading provider of data, research and analytics. The addition of CreditSights will strongly complement Fitch Solutions’ existing businesses. With its fundamental, in-depth research on investment grade and high-yield debt securities, CreditSights’ products significantly deepen Fitch Solutions’ capabilities across multiple fixed income and credit asset classes and sectors.
The business will continue to operate under the CreditSights brand, which is highly regarded by financial market participants for its independent relative value credit research.

Paul Taylor, President and CEO of Fitch Group, said:
“We are delighted that CreditSights is now part of Fitch Group and excited by the opportunity this provides to create enhanced offerings for the benefit of both companies’ customers.”

Peter Petas, CEO of CreditSights, said:
“I am excited for this next chapter for CreditSights. As part of Fitch Solutions, we will have opportunities to meet more of our clients’ needs and offer an expanded suite of solutions, all while continuing to deliver the core company, sector and market-relevant research as we have for the past 20 years.”

Founded in 2000, CreditSights is a leading provider of subscription-based, independent credit research, risk tools and comprehensive market insights used by finance professionals around the world. Headquartered in New York, with offices in London, Singapore and Denver, the company has over 200 full-time employees.

CreditSights’ core research product provides in-depth, market-relevant research. Covering more than 1,000 issuers, CreditSights helps financial market participants make better informed decisions on investments, asset allocation, trading and risk management.

About Fitch Group
Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of data, research and analytics; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is owned by Hearst.

About Fitch Solutions
Fitch Solutions fuels better informed credit risk and strategy decisions with reliable data, insightful research and powerful analytics. Clients can easily understand and interpret markets, while leveraging workflow efficiencies for enhanced productivity. Fitch Solutions provides accurate, granular and in-depth information, plus differentiated perspectives, especially in markets where information is hard to find and difficult to interpret.
Further information about Fitch Solutions is available at www.fitchsolutions.com.

About CreditSights, Inc.
CreditSights empowers nearly 15,000 financial professionals among the world’s largest institutions with the credit-risk tools, independent research and comprehensive market insights they need to make well-informed credit-risk decisions. Setting the standard for global credit research since 2000, CreditSights provides timely data, news, recommendations and unbiased analysis of the investment-grade and high yield debt securities of more than 1,000 issuers around the world. CreditSights delivers this content through innovative platforms, enabling market participants to know more, risk better and ultimately create value.

About Hearst
Hearst is a leading global, diversified media, information and services company with more than 360 businesses. Its major interests include ownership in cable television networks such as A&E, HISTORY, Lifetime and ESPN; global financial services leader Fitch Group; Hearst Health, a group of medical information and services businesses; transportation assets including CAMP Systems International, a major provider of software-as-a-service solutions for managing maintenance of jets and helicopters; 33 television stations such as WCVB-TV in Boston and KCRA-TV in Sacramento, California, which reach a combined 19% of U.S. viewers; newspapers such as the Houston Chronicle, San Francisco Chronicle and Times Union (Albany, New York); more than 300 magazines around the world, including Cosmopolitan, ELLE, Men’s Health and Car and Driver, and digital services businesses such as iCrossing and KUBRA; and investments in emerging digital entertainment companies such as Complex Networks. Follow us on Twitter @Hearst. To learn more about Hearst, visit hearst.com.