From the Wires
HR Ratings Expands Globally with its Registration by the SEC as an NRSRO
-- The Securities and Exchange Commission ("SEC") granted HR Ratings' registration as an NRSRO to issue credit ratings.
By: PR Newswire
Nov. 6, 2012 02:21 PM
MEXICO CITY and WASHINGTON, Nov. 6, 2012 /PRNewswire/ -- After five years issuing credit ratings under the highest standards of excellence, independence and transparency, HR Ratings has been registered by the United States Securities and Exchange Commission ("SEC") as a Nationally Recognized Statistical Rating Organization or NRSRO.
This registration will allow HR Ratings to issue credit ratings in the United States and in virtually any market worldwide where the NRSRO registration is accepted, and is due to the credibility and reliability of its ratings. This action broadens HR Ratings' scope to the global market, significantly increasing its growth potential. The registration authorization order is available at:
"The SEC's registration as an NRSRO opens the doors to a number of markets several times larger than Mexico's and to the same extent increases our commitment to our current and potential clients. We are ready for this new stage, in which we hope to add as clients global issuers from Mexico, the U.S. and other countries," said Alberto Ramos, CEO of HR Ratings.
HR Ratings is the first Latin-American and the third foreign rating agency that has been granted the SEC's coveted registration and expects to begin issuing ratings in the U.S. during the first half of 2013.
For his part, Anibal Habeica, Deputy CEO of HR Ratings, mentioned "The success of HR Ratings is based on our track record that reflects both the validity of our methodologies and the soundness of our approach to the rating process, driven by three key differentiating elements: dynamic analysis, a proactive attitude, and total transparency. These are now recognized by the SEC."
To serve its customers and begin its market expansion, HR Ratings will have offices in New York and Houston, integrating a team of U.S. based analysts, joining forces with our existing team in Mexico.
HR Ratings recognizes the support of the Mexican financial authorities, particularly the Secretary of Finance and Public Credit and the National Banking and Securities Commission, for their work along with the SEC to establish the mechanisms that allow for joint supervision of the rating agency, a necessary condition for registration to be granted in the U.S.
SOURCE PROFESIONALES EN COMUNICACIÓN FINANCIERA S.A. DE C.V.
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