- Leading financial magazine, The Asset announced Fitch Ratings as the winner under five different categories.
- The US-based credit rating agency was recognised as the ESG, Sovereign, COVID-19 Response, Public Finance and Corporate Rating Agency of the Year.
- The selection committee included the magazine’s board of editors with inputs considered from CFOs and treasurers.
Fitch Ratings Inc. dominated ‘The Asset Triple A Rating Agency of the Year Awards 2020’ by winning five awards. The credit rating agency won in the categories including Corporate, ESG, Public Finance and Sovereign Rating Agency of the Year. Further, it also won a special award for its COVID-19 response last year.
Selection Process for the Winner
Asset Publishing and Research Limited’s board of editors assessed the submissions as part of the selection process. Besides, CFOs, Treasurers, as well as other treasury professionals, gave their valuable inputs in the selection process.
The criteria for awards comprised of transparency of methodology, the count of the ratings done, default and stability rates, investor reach, and the agencies’ process in surveillance.
A Glance at the Awards Given to Fitch
- Fitch was awarded a special citation for its response to COVID-19 by The Asset. The Asset gave Fitch high marks for its pro-active engagement with investors amid the existing market situation with a series of webinars, round table, and other events across the APAC region. Also, Asset recognised Fitch for producing market commentaries and other rating reports along with the insights during the COVID-19 pandemic.
- Fitch won its second Environmental, Social, and Governance award from The Asset.
- Another award given to Fitch was for Sovereigns for its rating actions that consist of several downgrades for sovereigns like Hong Kong. This award is given to Fitch for the fourth time.
- Fitch maintained its award as the Public Finance Rating Agency of The Year for the sixth successive year. The award was given for its strong credentials in covering local government financing vehicles in China.
- For the first time, Fitch was awarded the Corporate Rating Agency of the Year on issuers like Tencent Music Entertainment Group & Contemporary Amperex Technology Company. The agency also superseded its rivals in several transactions like those for State Grid Corporation of China, and PTT Exploration and Production.