Credit ratings agency KBRA selects Dublin for European Headquarters
Kroll Bond Rating Agency (KBRA) has announced its expansion into Europe with the opening of its European Headquarters in Dublin. The move is expected to create 100 new jobs over the next three years.
KBRA is a full service credit rating agency that was established in 2010 to restore trust in credit ratings following the financial crisis. Since then KBRA has differentiated itself by offering accurate, timely, transparent ratings and research. With over 275 employees and offices across the United States located in New York, Pennsylvania and Maryland, KBRA has published over 8,000 ratings totaling $740 billion. The firm covers all markets including Structured Finance, Aviation, Public Finance, Financial Guaranty, Financial Institutions, Project Finance, Insurance and Corporates.
Given the exponential growth in the U.S. over the past few years, KBRA is expanding into Europe to provide investors and all market participants an additional view on ratings accompanied by the most thorough, detailed, accurate and timely analysis. KBRA expects all major geographies in Europe to benefit from this approach, including Ireland where it hopes to become the pre-eminent agency, improving access to the capital markets for all entities in the country.
Welcoming the announcement, An Tánaiste and Minister for Business, Enterprise and Innovation Frances Fitzgerald said: “I’m delighted that KBRA has chosen Dublin for its international HQ. The Government has been making strenuous efforts to ensure that we have the right conditions in place here to attract the knowledge based sectors, and announcements like this one today are a proof of these efforts. I’m confident that you will find the skills you require from our thriving Financial Services Sector and I look forward to a mutually beneficial relationship in the coming years.”
“KBRA is thrilled to open our first international office in a great city such as Dublin. We are so grateful for the city’s welcoming reception of our firm and we look forward to our growth within Dublin and across Europe”, said Jim Nadler, President & CEO.
Martin Shanahan CEO of IDA Ireland said: “I am delighted that KBRA have chosen Ireland over several other European destinations. This is another Brexit win for Ireland and indicates that financial institutions that may have previously chosen London now view Dublin as a viable post Brexit solution. With the European economy growing faster than the American economy, now is the time to be optimistic about Europe and Ireland remains unwavering in its commitment”.