SS&C Adds Fitch Ratings to Managed Service Platform

Users of SVC─the vendor's consolidated securities datafeed, formerly known as Securities Valuation Corporation─now have direct access to credit ratings covering corporate finance, structured finance, and public finance. This information will be directly embedded into SS&C portfolio managed platforms. Fitch covers around 9,000 active issuers including 3,500 bank ratings.

Adding Fitch ratings to SVC will help clients streamline their business processes and save costs, says Louie Iannuzzi, director of SVC Business Services at SS&C. "The advantage to clients is that it allows SS&C to be a true one-stop shop," he says. "We will be redistributing their data so clients do not need to go directly to Fitch."

SS&C already redistributes credit ratings from other credit rating agencies, including Moody's Investor Services and Standard & Poor's.

Clients have needed to expand the number of data points and services they look at when doing business as a result of increased regulatory scrutiny, Iannuzzi says. This means collection and management of market data has become more complex and time-consuming. Managed data services like SVC manage the whole process and cover security, pricing services, corporate actions, and other supporting financial data, therefore cutting down on the time needed to collect the necessary data.

Brian Filanowski, global head of product development at Fitch Solutions, says the partnership will provide an objective assessment of the creditworthiness of companies.

"Our data is delivered to SS&C's managed data service on a daily basis, allowing the end-user to stay abreast of rating changes," Filanowski said. "This, coupled with an unparalleled data consistency, provides an objective assessment of an entity's creditworthiness and serves as an important risk indicator."