Fitch Credit Ratings Research for Global Banks and Global Sovereigns Subscription

1 US Department of Agriculture (USDA) Statement of Work -- 1 of 4 -- 2 Contents Project ..................................................................................................................................................................................... 3 General Information ................................................................................................................................................................ 3 1.0 Scope of Work ............................................................................................................................................................... 3 2.0 Background ................................................................................................................................................................... 3 Contractor Requirements ...................................................................................................... 3.0 Technical Requirements / Tasks .................................................................................................................................... 4 4.0 Government Furnished .................................................................................................................................................. 4 5.0 Deliverables / Schedule ................................................................................................................................................. 4 6.0 Travel ............................................................................................................................................................................ 4 7.0 Contractor’s Key Personnel........................................................................................................................................... 4 8.0 Security Requirements .................................................................................................................................................. 4 9.0 Data Rights .................................................................................................................................................................... 4 10.0 Section 508 – Electronic and Information Technology Standards .............................................................................. 4 -- 2 of 4 -- 3 Project Bank Rating & Sovereign Reports On-line Subscription General Information 1.0 Scope of Work The United States Department of Agriculture (USDA) Foreign Agriculture Service (FAS) requires access to the Fitch Credit Ratings Research and BMI Sovereign Credit Solutions provided by Fitch Solutions, Inc., online subscription service for members of the FAS Risk and Asset Management (RAM) branch. FAS requires an online subscription that provides ratings and research as well as leading analytical tools and ongoing surveillance. The subscription shall include in-depth bank analyses using the CAMEL (capital adequacy, asset quality, management, earnings, liquidity) analysis methodology commonly accepted by financial institutions and other entities that extend credit to banks. In addition, the service shall include macroeconomic indicators, foreign exchange rates, inflation and employment data, trade and current account balances, political risk assessments, and the fiscal statuses of foreign governments, which will enable RAM to review country risks and to establish country limits during the planning process for each fiscal year. Only one subscription, Fitch Solutions, Inc., is available that provides this information. RAM staff relies primarily upon reports generated by Fitch Solutions, Inc. to fully identify and analyze the financial condition of foreign banks that are granted credit limits in CCC’s Export Credit Guarantee Programs. RAM also uses these reports to validate the financial standing of U.S. banks that apply to participate as lenders in CCC’s Export Credit Guarantee programs. RAM staff also relies primarily on data collected and provided by Fitch to identify promising markets, assess and manage country-specific credit risks, and ultimately prevent potential defaults. Fitch Credit Ratings Research and BMI Sovereign Credit Solutions is a proprietary, electronic analytical service available from one source. 2.0 Background Fitch Credit Ratings Research and BMI Sovereign Credit Solution is a service provided by Fitch Solutions, Inc., part of the Fitch Group, a global leader in financial information services with operations in more than 30 countries. Fitch Credit Ratings Research and BMI Sovereign Credit Solution is an online subscription service that provides bank & country risk ratings and financial industry and macroeconomic data and research as well as leading analytical tools and ongoing surveillance. Included in the subscription is timely insights, objective opinions, credit analysis, as well as fundamental financials and market-based indicators on entities both rated and not rated by Fitch. Additionally, Fitch clients have access to experienced Fitch Ratings analysts all over the world to help them monitor up-to-the-minute rating changes, understand credit trends, and make informed investment decisions. Fitch is the only external rating agency which specializes and focuses on banks, and they provide significantly more bank analyses than any other external rating agency. Fitch’s network of offices in numerous countries throughout the world enables them to provide in-depth research and analysis in a timely manner. The Fitch subscription includes in-depth bank analyses, using the CAMEL (capital adequacy, asset quality, management, earnings, liquidity) analysis methodology commonly accepted by financial institutions and other entities that extend credit to banks. Fitch also rates these foreign banks using a methodology that is standardized and accepted throughout the investment community, thereby allowing RAM to compare banks of similar ratings. These reports and updates are designed …