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Algorithmics adds Fitch issuer ratings to Algo OpVantage First database

04 November 2005  |  2909 views  |  0 Source: Algorithmics

Algorithmics Incorporated announced today that it has chosen Fitch Ratings issuer ratings to include within its Algo OpVantage FIRST (Financial Institutions Risk Scenario Trends) database of case studies.

The Algo OpVantage FIRST database has been mapped to selective ratings history, and tracked to start and end dates of an operational risk event, for the significant range of public companies covered by Fitch Ratings.

"The incorporation of Fitch Ratings into the Algo OpVantage FIRST database enables clients to complete deep analysis of the cost of a risk event, including the cost of borrowing capital, beyond pure loss amount," said Penny Cagan, managing director and head of research for Algo OpVantage. "It will also allow us over time to track how operational risk events impact a company's credit rating, which is an issue many of our clients are investigating as they analyze the relationship between credit and operational risk."

Dan Mudge, group managing director of Algo OpVantange commented on the nclusion of the Fitch Ratings: "Fitch Ratings provides significant coverage of the corporate markets and a deep repository of publicly available content that allows to us to add value for our client base in a way that is unmatched in the industry."

In addition to new content, new functionality has also been added to the database, which includes the ability to download events in XML format. These enhancements have been driven by feedback from Algo OpVantage's extensive user base of over 70 global financial institutions.

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