Rapid Ratings slings Singapore deal
Corporate credit rating and investment grading agency Rapid Ratings has struck a deal with the Securities Investors Association of Singapore (SIAS) to distribute its equity and credit risk services to SIAS members.
Under the agreement, SIAS’ 63,000 members will be able to access Rapid Ratings’ ratings and reports via the association’s website for the next five years.
The service will offer members corporate risk ratings, industry reports, stock recommendations and research newsletters at discounted rates.
SIAS chief executive officer and president David Gerald says SIAS will co-brand Rapid Ratings’ products in Singapore.
The ratings and reports will cover all Singapore listed companies as well as listed companies in other countries.
“The design of this partnership between a shareholders’ association and a rating agency is a global first,” Rapid Ratings chief executive officer Patrick Caragata says.
He says Singapore was the best strategic fit for the ratings agency to expand its operation into the Asia region due to its adherence to international accounting standards and the quality of its corporate financial data.
“It’s really a win-win situation, SIAS is leveraging its significant membership so that members can access Rapid Ratings’ research,” Caragata says.
“We view our role as a corporate integrity watchdog protecting the interests of small investors and minority shareholders,” Gerald says.
The SIAS is a non-profit organization which was formed in June 1999.
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