Egan Jones Ratings Company

What Egan Jones Ratings Company does

Egan-Jones Ratings Company is an independent, NRSRO-registered credit rating agency founded in 1995 and headquartered in New York, with a compliance office in King of Prussia, Pennsylvania. The firm provides credit ratings for corporate issuers, financial institutions, structured finance vehicles, and private placement securities, alongside independent proxy advisory services delivered through the ejproxy.com subsidiary. Its customer base spans institutional investors, asset managers, insurance companies (49 of the 50 largest US life insurers hold Egan-Jones rated assets), and private credit issuers across 40+ countries, with regulatory recognition from the SEC (NRSRO, 2007), ESMA (2012), FCA (2015), and NAIC (2015).

The firm distinguishes itself through an investor/subscriber-pay model rather than the dominant issuer-pay model, structurally reducing conflicts of interest. Core technology includes the proprietary Ratings Change Anticipator (RCA) tool for early warning of rating migrations, the co-developed Waterfall Editor and ABSTRAK analytics tools for structured finance cash flow modeling, a structured Data Feed product, and a Portfolio Manager module. Products are organized into three lines: Subscription Ratings, Private Credit Ratings (covering eight sector categories including direct lending, BDCs, aircraft leases, real estate, and infrastructure debt), and Proxy Advisory Services, with no-cost indicative assessments used as lead generation for formal engagements.

Revenue is generated through annual subscription pricing for ratings and research, subscription-based proxy voting services, and engagement-based pricing for formal private placement ratings. The go-to-market is sales-led, combining a dedicated business development team (Alexander Prokopenko, JJ Gonzalez, Richard Speicher, Wick Egan, Vanessa Hemavathi) with content marketing, 42+ industry events annually, and direct institutional engagement. Pricing is not publicly disclosed and the company is privately held, founder-owned, and bootstrapped, with no disclosed funding rounds.

Name

Egan Jones Ratings Company

Legal name

Egan-Jones Ratings Company

Website

https://egan-jones.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

51–100 employees

Short description

Egan-Jones Ratings Company is an NRSRO-registered independent credit rating agency and proxy advisor, founded in 1995, serving institutional investors, asset managers, insurance companies, and private credit issuers across 40+ countries under an investor-pay model.

Ownership category

akta.pro rank

Product category

Credit Rating Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Asset-Backed Securities (6189), Investment Advice (6282)

akta.pro primary industry

Structured Finance Ratings & Surveillance (FSACACAI)

akta.pro secondary industry

Risk Analytics, Portfolio Monitoring & Early-Warning (Consumer Credit) (FSAKAKAH)

Keywords

• Credit rating services
• Private placement ratings
• Proxy advisory services
• Structured finance ratings
• Investor-pay ratings

Headquarters

HQ city

Haverford

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Subscription Ratings: Primarily investor/subscriber-pay model where institutional investors and asset managers pay for credit ratings and research subscriptions. This model aligns incentives with investors rather than issuers, reducing conflicts of interest inherent in the traditional issuer-pay model.
2. Proxy Advisory Services: Proxy voting guidance and execution services for asset managers, asset owners, and RIAs, provided through the ejproxy.com platform.
3. Private Credit Ratings: Credit ratings for private placement securities including direct lending funds, BDCs, aircraft leases, real estate, and infrastructure debt. Indicative assessments provided at no cost, with formal ratings services billed to issuers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Egan-Jones Ratings Company is an NRSRO-registered independent credit rating agency providing timely, accurate credit ratings on corporate issuers, financial institutions, structured finance vehicles, and private placement securities through a subscriber/investor-pay model. The firm also operates an independent proxy advisory service (ejproxy.com) delivering conflict-free proxy voting guidance, board analysis, and N-PX reporting for asset managers, asset owners, and RIAs.

Product overview

Egan-Jones Ratings Company offers a comprehensive portfolio of credit ratings and advisory services organized around three core product lines: Subscription Ratings (timely, accurate ratings for corporate issuers, financial institutions, and structured finance vehicles including proprietary tools like the Ratings Change Anticipator and Portfolio Manager), Private Credit Ratings (NRSRO-recognized ratings for private placement transactions across eight asset classes including direct lending, aircraft leases, real estate, and infrastructure debt), and Proxy Advisory Services (independent, conflict-free proxy voting guidance and execution via ejproxy.com). The company also provides no-cost indicative assessments and publishes research through its Insight platform. All products share the common differentiator of an investor-pay model designed to reduce conflicts of interest.

Differentiator

Problem solved

Functional benefit

Products and services

• Subscription Ratings Timely, accurate credit ratings for corporate issuers, financial institutions, and structured finance vehicles delivered to institutional investors and asset managers on an annual subscription basis. Includes Ratings Analysis Reports, Disparity Analysis, Monthly Industry Reviews, CUSIP Ratings, and portfolio monitoring tools.
• Private Credit Ratings NRSRO-recognized credit ratings for private credit transactions including direct lending funds, BDCs, aircraft leases, real estate, and infrastructure debt, delivered with confidentiality and institutional credibility to issuers and investors.
• Proxy Advisory Services Independent, conflict-free proxy voting guidance and execution for asset managers, asset owners, and RIAs, with zero benchmark anchoring, coverage across 40+ countries, and EDGAR-ready N-PX reports.
• No-Cost Indicative Assessments Preliminary, confidential credit assessments conducted using the same methodologies as formal ratings, providing indicative assessment level and key analytical considerations at no cost and with no obligation to proceed to formal rating.

Quantifiable outcome

• Major NRSROs' ratings converge toward Egan-Jones ratings 85% of the time over 11-year period (2015-2025)
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature3 records

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• S&P Global Ratings: The largest globally recognized credit rating agency (issuer-pay) and a direct competitor across corporates, financial institutions, and structured finance. Comparable because both rate the same issuer universe, but S&P dwarfs Egan-Jones in scale and scope.
• Moody's Ratings: Second major issuer-pay NRSRO; directly comparable across corporate, financial institution, and structured finance ratings. Moody's also operates the largest structured finance analytics franchise, making it a close peer for Egan-Jones's CLO/ABS business.
• Fitch Ratings: Third major issuer-pay NRSRO with comparable corporate, financial institution, and structured finance ratings coverage. Competes with Egan-Jones on the same issuer set, particularly insurance and asset manager subscriptions.

Direct peers

• Kroll Bond Rating Agency (KBRA): Independent NRSRO with a strong structured finance and private credit franchise — the closest direct competitor to Egan-Jones. Both firms emphasize private placement ratings, ABS/CLO analytics, and conflict-free positioning.
• DBRS Morningstar: Independent NRSRO acquired by Morningstar in 2019, with comparable coverage across corporates, financial institutions, and structured finance. Like Egan-Jones, it pitches itself as a credible alternative to the Big Three.
• A.M. Best: Specialty rating agency focused on insurance — a niche where Egan-Jones has built its strongest franchise (49/50 top U.S. life insurers). Comparable in serving insurance regulatory capital use cases under NAIC recognition.
• Institutional Shareholder Services (ISS): Largest proxy advisory firm — directly comparable to Egan-Jones Proxy Services (ejproxy.com) in serving asset managers and RIAs with voting recommendations and governance research.
• Glass Lewis: Second major proxy advisory firm and direct competitor to ejproxy.com across asset manager and RIA voting guidance, with overlapping global coverage and EDGAR-ready N-PX reporting.

Regional players

• HR Ratings: Mexican-based NRSRO with comparable corporate and structured finance ratings, primarily serving Latin American issuers. Comparable business model as an independent CRA outside the Big Three.
• Japan Credit Rating Agency (JCR): Japanese registered CRA comparable in operating model as a non-Big-Three rating agency; Egan-Jones's 40+ country footprint creates tangential overlap.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/EganJonesRating
• LinkedInlinkedin.com/company/egan-jones

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Egan Jones Ratings Company