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Article: Fitch Ratings Increases Investment in Korea Ratings.
- Article from:
- Business Wire
- Article date:
- January 17, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK & LONDON -- Fitch Ratings Limited today announced that it had entered into a sale and purchase agreement with several parties, the largest of which is Hanil Cement Co. Ltd, to increase its equity position to over 49% from 8% in Korea Ratings Corporation, the leading Korean credit rating agency.
Fitch Ratings, through negotiated private transactions, will pay about KRW56 billion (USD61 million) to acquire a further 41% stake in Korea Ratings.
Today's announcement extends and strengthens the relationship between Fitch and Korea Ratings. Fitch and Korea Ratings first entered into a strategic alliance in 1999, which included the provision of ...