Credit rating services in Australia are dominated by three global operators: Moody's, Standard & Poor's, and Fitch. There is also concentration in the provision of consumer credit reporting; the largest agency holds more than 16.5 million credit files for individuals.
The industry is responsible for mitigating risk, regulating activity and standardising information for clients, including investors, credit issuers, investment banks, broker-dealers, governments and consumers. Credit rating agencies (CRAs) have been criticised for being some of the facilitators of the global financial meltdown.
This industry provides independent opinions of the creditworthiness of particular companies, individuals, securities or financial obligations. A credit bureau (or consumer credit reporting agency) provides opinions on the creditworthiness of an individual. A credit rating agency (CRA) assigns a credit rating for a particular issue of debt, but also evaluates the overall creditworthiness of the issuing entity.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.