Fitch Group Buys Niche Financial Provider CrediSights
Posted on 01/14/2021
Fitch Group, a financial information services firm owned by Hearst, announced it will acquire CreditSights, Inc., a provider of independent credit research to investors. The company is being acquired from the founders, along with other shareholders and investors. Financial terms for the deal were not disclosed, and closing is subject to regulatory approvals and other customary closing conditions. Following the closing, CreditSights will become part of Fitch Group’s Fitch Solutions division, as it further expands its research coverage of investment grade, leveraged and distressed debt markets. Fitch Solutions is a provider of credit and macro intelligence, and the primary partner to Fitch Ratings for the distribution of its ratings-related content.
Founded in 2000, New York-based CreditSights is a provider of subscription-based, independent credit research, risk tools and comprehensive market insights to finance professionals around the world. The company has over 200 full-time employees. CreditSights’ core research product provides in-depth, market-relevant research. Covering more than 1,200 issuers, CreditSights helps financial market participants make better informed decisions on investments, asset allocation, trading and risk management. Through the acquisition of CreditSights, Fitch Group will complement its portfolio by adding a leading provider of relative value credit research to a suite of products that includes legal analyses and fixed-income news offered by Fitch Solutions Leveraged Finance Intelligence through its Covenant Review, Capital Structure, LevFin Insights and PacerMonitor brands, as well as the credit ratings and research from Fitch Ratings.
Advisors
DC Advisory served as financial advisor to CreditSights on this transaction.