Fitch Ratings A place at the top table

The recent admission by Lehman Brothers of ratings from Fitch in its index criteria has thrust the credit rating agency into the spotlight. But according to Fitch, this elevation to the big league, alongside Moody’s and S&P, is a simply a fair reflection of the firm’s standing. Saskia Scholtes profiles the agency’s management team

What caused January’s dramatic U-turn on General Motors paper, when spreads on GMAC’s 7.75% notes due 2010 tightened to 280 basis points over Treasuries, reversing a widening trend? After all, there was a conspicuous absence of positive headlines for the beleaguered auto manufacturer and its financing arm that might have prompted such a tightening. Many believe the answer lies in GM’s BBB credit rating from Fitch Ratings, the smallest of the ‘Big Three’ rating agencies after Standard & Poor’s