Data and analytics enable Standard & Poor’s, Moody’s Investors Service and Fitch Ratings to maintain their grip on the business for U.S. credit ratings, according to the U.S. Securities and Exchange Commission.
Of the $5.9 billion in revenue generated by 10 rating firms recognized by the government in 2014, the most recent data available, 94.3 percent was pulled in by the Big Three, according to an annual SEC review. That’s slightly higher than in 2011, a year after Congress voted for policies designed to open up the market to smaller competitors.
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