DBRS, a Canadian credit rating agency, and HR Ratings, a Mexican credit rating agency, announced that they have entered into a strategic alliance to cross market their rating services in Mexico, the United States and Canada.
The collaboration will facilitate the efficient introduction of Mexican issuers looking to issue debt in the global markets to DBRS who, with its affiliates, is a globally-recognized credit rating agency, and U.S. and Canadian issuers looking to issue debt in the local Mexican market to HR Ratings, who is the leading local Mexican rating agency widely accepted by investors in the Mexican market.
“The goal of our collaboration is to provide broader, quality rating service options and products to issuers and investors in Mexico,” said Doug Turnbull, Vice Chairman of DBRS Limited.
“We are very excited about this strategic alliance with DBRS as it will expand the options and services we can offer the Mexican market,” said Alberto Ramos, Chairman of HR Ratings.
DBRS’s and HR Ratings’ cross-marketing activities will include co-hosting credit rating seminars for existing and potential clients, sponsoring joint informational events for users of credit rating services, and offering their unique perspectives on the macroeconomic challenges and opportunities facing issuers and investors in their respective markets.
While DBRS will no longer provide its local Mexican rating services, it will continue to provide international ratings to Mexican issuers. HR Ratings stands ready to offer its rating services to DBRS’s locally-rated customers.
HR Ratings and DBRS will each continue to operate independently in the Mexican, U.S. and Canadian markets. Each credit rating agency will continue to be recognized and regulated by the existing authorities over credit rating providers in the jurisdictions where they are currently licensed, including oversight of this strategic alliance.