Fitch Ratings - Bias and Credibility

RIGHT-CENTER BIAS

These media sources are slightly to moderately conservative in bias. They often publish factual information that utilizes loaded words (wording that attempts to influence an audience by appealing to emotion or stereotypes) to favor conservative causes. These sources are generally trustworthy for information but may require further investigation. See all Right-Center sources.

Overall, we rate Fitch Ratings Right-Center Biased based on political affiliation to the Republican party. We also rate them High for factual reporting due to a clean fact-check record.

Detailed Report

Bias Rating: RIGHT-CENTER
Factual Reporting: HIGH
Country: USA
Press Freedom Rating: MOSTLY FREE
Media Type: Website
Traffic/Popularity: Medium Traffic
MBFC Credibility Rating: HIGH CREDIBILITY

History

Fitch was founded in 1913 by John Knowles Fitch as the “Fitch Publishing Company” in New York City. Initially, Fitch published financial statistics for investment purposes. In 1924, Fitch introduced a financial securities rating system from AAA to D. In 1997, Fitch Publishing Company merged with British IBCA and acquired Thomson Bank Watch and Duffs and Phelps Rating Agency.

Fitch Ratings, Inc. is now one of the big three credit rating agencies based in the USA. They provide assessments for investors regarding the creditworthiness of companies and countries, credit ratings, commentary, and research. Hearst is the owner of Fitch Group, including Fitch Ratings Inc. Ian Linnell is the President of Fitch Ratings and Paul Taylor is the senior vice president of Hearst as well as president and chief executive officer of Fitch Group.

Read our profile on the United States government and media.

Funded by / Ownership

Marc Ladreit de Lacharrière is a French businessman, and through his company Fimalac S.A, he owned 20% of the Fitch Group jointly with Hearst. In December 2018, according to Le Monde, Marc Ladreit de Lacharrière, who is close to center-right former French prime minister and 2017 presidential candidate François Fillon, was sentenced to an eight-month suspended prison sentence. According to a BBC article, “Mrs. Fillon made €100,000 writing just a handful of articles for a literary publication La Revue des Deux Mondes. The magazine is owned by a billionaire friend of the family, Marc Ladreit de Lacharrière.”

In December 2018, Hearst announced that “it has purchased from Fimalac S.A. an additional 20 percent interest in global financial information services company Fitch Group, bringing Hearst’s equity interest to 100 percent.” Finally, according to Open Secrets, Hearst has donated 70% to Republican candidates and causes in 2020.

Analysis / Bias

In review, fitchratings.com provides information on their most recent credit ratings and news related to financial markets. Headlines and articles are straightforward with minimal bias in wording such as this: Fitch Downgrades Canal de Isabel II’s IDR to ‘BBB’ following Madrid’s Downgrade. The website also publishes research and has recently focused on the impacts of Coronavirus, such as this: Coronavirus Shock Highlights Importance of LatAm Sovereign Debt Management.

Editorially, Fitch does not produce true political op-eds; however, rating securities and markets require subjective opinions based on the interpretation of data. Fitch’s opinions tend to favor business interests and have a favorable view of Trump’s impacts on the economy “Fitch changes its mind: Trump isn’t a threat to the world economy after all.” Further, throughout its history, the majority owner Hearst Corp has supported Republican candidates and policy.

Failed Fact Checks

None in the Last 5 years

Overall, we rate Fitch Ratings Right-Center Biased based on political affiliation to the Republican party. We also rate them High for factual reporting due to a clean fact-check record. (M. Huitsing 6/25/2020) Updated (07/01/2022)

Source: https://www.fitchratings.com/

Last Updated on May 24, 2023 by Media Bias Fact Check