Melbourne, Monday 15 March 2021
Australia Ratings Pty Ltd (Australia Ratings) has announced the sale of its investment ratings division, Australia Ratings Analytics Pty Ltd (ARA) to Sydney-based Foresight Analytics Pty Ltd (Foresight).
ARA was a division of Australia Ratings that assigned investment ratings to managed funds, separately managed accounts (SMAs) and insurance bonds. The investment ratings staff of ARA have transitioned to Foresight and the investment rating service will continue to operate in a similar manner albeit under its new brand of Foresight Analytics. Foresight Analytics Pty Ltd is managed by Jay Kumar, a former executive of Morningstar Australia.
Australia Ratings will continue to offer credit rating and risk services to the Australian market. Australia Ratings provides credit ratings and assessments on corporate, financial and government entities as well as debt and listed hybrid securities. It will also continue to operate other ancillary services such as assessment of resource companies and credit risk training services.
Australia Ratings’ Managing Director, Chris Dalton, said “We commenced the ARA business to provide investment ratings of funds, SMAs, and investment bonds to financial planners and wealth advisory groups. Having established a successful presence in the research market, we believe the transfer of the business to Foresight will allow it to accelerate its growth trajectory”.
The focus of Australia Ratings will be on credit ratings and related services, which are valued by investors and other market participants to help them understand the features and quality of a range of debt products. “Investors will also continue to benefit from Australia Ratings’ unique product complexity indicator, which gives investors a clear and simple guide to the complexity of the security, complementing our credit ratings”, Mr. Dalton added.
Australia Ratings is one of six credit rating agencies that holds an Australian Financial Services Licence (AFSL). It is the only Australian-owned credit rating agency that holds a retail AFSL. As such, Australia Ratings is the only ratings agency in Australia licensed to assign credit ratings to debt securities and products offered to retail investors in Australia.
Further information is available from www.australiaratings.com.
For more information contact:
Chris Dalton, Managing Director
0403 584 600
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About Australia Ratings
Australia Ratings is Australia’s local credit rating agency with over 60 years of experience in assessing and rating credit risk. Australia Ratings was formed in 2010 following regulatory reforms to the operation of credit rating agencies in Australia. Australia Ratings Pty Limited holds Australia Financial Services License No. 346138.
Opinions of Australia Ratings are determined by its analytical team in accordance with its rating methodology. The Board of Australia Ratings, whose members include Jarrod Brown, Chris Dalton, and Mike Dontschuk, oversee the application of Australia Ratings rating methodology and the integrity of the rating process.
Click here to find out more about Australia Ratings’ Credit Rating and Product Complexity Indicator (PCI) Scale.
Update 31 March 2021:
Investment Rating Reports have now been removed from the Australia Ratings website. To access these reports and more information, contact Foresight Analytics. Click here for their website.