From the Wires
HR Ratings Expands Internationally with its Registration as an NRSRO
By: PR Newswire
Nov. 9, 2012 12:59 PM
MEXICO CITY, Nov. 9, 2012 /PRNewswire/ --The Securities and Exchange Commission ("SEC") granted HR Ratings' registration as a Nationally Recognized Statistical Rating Organization ("NRSRO") for issuers of government securities. By becoming the first Latin American rating agency to be registered in the United States, HR Ratings dramatically increases its potential market.
HR Ratings has been issuing credit ratings for five years under the highest standards of excellence, independence and transparency. This action broadens HR Ratings' scope to other markets, significantly increasing its growth potential. The registration authorization order is available at:
"With this registration as an NRSRO, HR Ratings 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 rating agency and is only the tenth company worldwide that currently has 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."
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 HR Ratings
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