SOURCE: FIMALAC

May 02, 2007 02:23 ET

FIMALAC : FIRST HALF 2006/2007 REVENUE UP BY A STRONG 25,3% LIKE FOR LIKE

PARIS -- (MARKET WIRE) -- May 2, 2007 -- FIRST-HALF REVENUE (October 2006-March 2007):UP BY A STRONG 25.3% LIKE-FOR-LIKE*

I) First-half 2006/2007 revenue: up 20.2% on a reported basis and 25.3% like-for-like.

Consolidated revenue for the six months ended March 31, 2007 - consisting entirely of Fitch Group revenue - amounted to EUR 365.7 million compared with EUR 304.2 million for the year-earlier period. The period-on-period increase was 20.2% on a reported basis versus 25.3% like-for-like, due to unfavorable exchange rates, particularly the weaker dollar.

+--------------------+--------------------+--------------------+----------+
|                    |                    |                    |  % change|
+--------------------+--------------------+--------------------+----------|
|(in EUR  millions)  |Oct. 2005 to March  |Oct. 2006 to March  |(reported)|
|                    |2006                |2007                |          |
+--------------------+--------------------+--------------------+----------|
|  Fitch Ratings     |               255.9|               313.3| + 22.4 % |
+--------------------+--------------------+--------------------+----------|
|  Algorithmics      |                48.3|                52.4| + 8.5 %  |
+--------------------+--------------------+--------------------+----------|
|Fitch Group         |               304.2|               365.7|+ 20.2 %  |
+--------------------+--------------------+--------------------+----------|
|Consolidated revenue|               304.2|               365.7| + 20.2 % |
+--------------------+--------------------+--------------------+----------|
+--------------------+--------------------+--------------------+----------|

+--------------------+-----------------+
|                    |     % change    |
+--------------------+-----------------+
|  (in EUR  millions)|  (like-for-like)|
|                    |                 |
+--------------------+-----------------+
|  Fitch Ratings     |         + 26.9 %|
+--------------------+-----------------+
|  Algorithmics      |         + 16.5 %|
+--------------------+-----------------+
|Fitch Group         |         + 25.3 %|
+--------------------+-----------------+
|Consolidated revenue|         + 25.3 %|
+--------------------+-----------------+
+--------------------+-----------------+
(*) At constant exchange rates

Commenting on these figures, Marc Ladreit de Lacharrière stated:

"Like-for-like revenue growth for the first half exceeded our targets. We recorded strong growth in all regions - the United States, Europe and the emerging Asian markets - and all segments of the rating business performed well.

In light of this performance, we are very confident in our full year outlook although it's important to note that the first-half growth was exceptional and cannot be extrapolated to the second half."

II) Acquisition of Korea Ratings

In April 2007, Fitch Ratings raised its interest in Korea Ratings, South Korea's leading rating agency, to 53%.

Korea Ratings has been instrumental in the development of the country's fixed income market, with its innovations and thought leadership. It maintains ratings on over 350 South Korean companies and also has a strong presence in the structured finance market.

The transaction significantly increases the depth and breadth of Fitch Ratings' presence in Asia, where Fitch Group already has strong footholds in 11 countries including Japan, Hong Kong, China, India, Singapore, Thailand, Taiwan and Indonesia.

Contact:
Jean-Philippe Laval
tél: 01 47 53 61 81
email: jp.laval@fimalac.com

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