OREANDA-NEWS. Fitch Ratings has been named as the winner in three categories in the inaugural Triple A Rating Agency of the Year awards by The Asset, a publication covering Asia's financial industry since 1999.

These include awards for "Corporate Rating Agency of the Year", "Financial Institution Rating Agency of the Year", and "Public Finance Rating Agency of the Year".

"We are humbled by the market's recognition of the consistent quality of our work, and are very grateful to receive these awards," said Brett Hemsley, Head of Asia Pacific for Fitch. "We are committed to providing the most timely, insightful and reliable opinions to investors, issuers and other participants in the credit markets."

The awards, announced on 16 February 2016, were presented to rating agencies that were able to demonstrate leadership across multiple parameters including transparency of ratings methodology, number of ratings conducted, default and stability rates, surveillance process, methodologies applied for investor protection, and investor outreach and education.

Fitch was recognised as "Corporate Rating Agency of the Year" for the "great strides in making its presence felt in the market," according to The Asset, citing the significant number of legacy issuers who were able to access the capital markets by engaging Fitch.

The Asset said Fitch's rating methodology and achievement in rating landmark public finance deals in China, including China Huarong Asset Management Company and Beijing Infrastructure Investment Company, helped the agency to win the award for "Public Finance Rating Agency of the Year".

For the "Financial Institution Rating Agency of the Year" award, Fitch was commended for being the first agency "to consider using the higher of a bank's standalone strength and support rating" - and for providing extra transparency through the banks' Ratings Navigator. Fitch was also recognised as the "Best Rating Agency in FIG" in GlobalCapital's Bond Awards in 2015, highlighting the agency's strong track record and franchise in financial institutions credit research and analysis.

In other significant milestones over the past 12 months, Fitch's ratings were added to J.P. Morgan's widely followed Asia Credit Bond index (JACI) in September 2015. The agency's investment grade and high yield ratings also became part of the default criteria for Bloomberg's league tables in April 2015.

Fitch's independent credit opinions combine global perspectives with local insight - with a strong on-the-ground presence of 12 offices in major cities across the Asia-Pacific region. The agency rates more than 90% of sovereign debt issuances in the Asia-Pacific region - as well as 100% of the issuers in China's international public finance sector and 100% of covered bonds issued in Australia and New Zealand. We also command the largest share of first time cross-border corporate issuers and provide the greatest coverage of bank Basel III Tier 2 subordinated debt in the Asia-Pacific region.