Feller Rate
Feller Rate is the first credit rating agency in Latin America (founded 1988, Santiago, Chile), providing independent credit risk opinions on banks, insurers, corporations, investment funds, and structured finance across six LatAm countries (Chile, Paraguay, Dominican Republic, El Salvador, Costa Rica, Panama), with adjacent ESG, SPO, and compliance certification services.
- Company typePrivate
- Founded1988
- HeadquartersLas Condes, Chile
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Feller Rate does
Feller Rate Clasificadora de Riesgo Ltda. is a privately held Chilean credit rating agency founded in 1988, the first of its kind in Latin America. Headquartered in Las Condes, Santiago, the firm provides independent credit risk opinions on issuer solvency and financial instruments — including bonds, deposits, insurance obligations, fund quotas, securitizations, and project finance — across six Latin American jurisdictions: Chile, Paraguay, Dominican Republic, El Salvador, Costa Rica, and Panama. Its methodology is published in each country and follows an S&P-aligned nomenclature, covering banking, insurance, investment funds, corporations, and structured finance.
The product platform is anchored by the core Clasificación de Riesgo (credit rating) service and extended by three adjacent modules: Feller ESG (independent environmental, social, and governance risk assessment), Feller Scope (crime prevention model certification under Chilean Law 20.393, with 350+ certifications performed since 2011), and a corporate solutions suite covering financial scoring, free competition certification, business valuation, training, and strategy consulting. A recently added Second Party Opinion (SPO) capability targets green, social, and sustainability-linked debt instruments. The technology layer is built on proprietary credit risk assessment methodologies rather than disclosed AI/ML systems, delivered through a direct B2B sales model with country-based regional Managing Directors and a free online ratings database (registration-gated).
The business model is professional services: fees are paid by issuers and underwriters for initial ratings and recurring surveillance, supplemented by ESG evaluations, SPOs, mandatory MPD certifications, and corporate consulting. Feller Rate is family-controlled (Feller family, with Álvaro Feller as President and Max Feller as Executive Director) with no disclosed external institutional shareholders, PE/VC backers, or public listing. Recent activity has emphasized geographic expansion (Panama and Guatemala subsidiaries in 2024) and product extension into sustainable finance SPOs, supported by a leadership transition that elevated Claudio Salin G. to General Manager in 2025.
Feller Rate firmographics
Firmographics- Name
- Feller Rate
- Legal name
- Feller Rate Clasificadora de Riesgo Ltda.
- Website
- https://feller-rate.com
- Company type
- Private
- Founded year
- 1988
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Feller Rate is the first credit rating agency in Latin America (founded 1988, Santiago, Chile), providing independent credit risk opinions on banks, insurers, corporations, investment funds, and structured finance across six LatAm countries (Chile, Paraguay, Dominican Republic, El Salvador, Costa Rica, Panama), with adjacent ESG, SPO, and compliance certification services.
- Ownership category
- akta.pro rank
Feller Rate industry classification
Industry- Product category
- Credit Rating Services
- NAICS
- Credit Bureaus (561450), Activities Related to Credit Intermediation (5223)
- SIC
- Services-Consumer Credit Reporting, Collection Agencies (7320)
- akta.pro primary industry
- Consumer Credit Decisioning & Underwriting Platforms (FSAKAKAG)
- akta.pro secondary industry
- Credit Scoring Models & Score Providers (FSAKAKAC)
Keywords
Where Feller Rate is headquartered
LocationHeadquarters
- HQ city
- Las Condes
- HQ country
- Chile
- HQ region
- Latin America
Offices6 records
Markets served
Feller Rate business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Credit Rating Services: Feller Rate receives fees from issuers (companies issuing debt securities) or underwriters for credit rating services. The company rates solvency of companies and various financial instruments including bonds, deposits, and securities.
- Feller Scope MPD Certification: Certification services for Crime Prevention Models under Law 20.393, providing periodic independent evaluation required by law for entities to demonstrate their compliance models exist.
- Feller ESG Evaluation: ESG risk assessment services providing independent opinion on environmental, social, and governance risk levels facing organizations.
- Corporate Solutions: Additional services including financial scoring, free competition certification, valuation, training, and strategy consulting services for corporate clients.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Feller Rate product offering
Product offeringCore offering
Feller Rate is a credit rating agency that provides independent risk classification opinions on the solvency of companies and financial instruments, including bonds, deposits, insurance obligations, fund quotas, securitizations, and project financing. The company also delivers complementary services such as ESG risk evaluations, Feller Scope MPD (Crime Prevention Model) certification under Chilean Law 20.393, and corporate consulting solutions including financial scoring, free competition certification, business valuation, training, and strategic consulting.
Product overview
Feller Rate is a risk rating agency founded in 1988 (the first in Latin America) offering a platform of interconnected services. Its core product is Credit Risk Classification (Clasificación de Riesgo), which rates the solvency of companies and financial instruments across seven countries. This core is extended by three specialized modules: Feller ESG (environmental, social, and governance risk evaluation), Feller Scope (crime prevention model certification under Chilean Law 20.393), and a set of corporate consulting solutions comprising Financial Scoring, Free Competition Certification, Business Valuation, Training, and Strategy. The company serves banks, insurance companies, corporations, investment funds, mutual funds, pension fund administrators, securitizations, and project finance across Chile, Paraguay, Dominican Republic, El Salvador, Costa Rica, Panama, and Corporate coverage.
Differentiator
Problem solved
Functional benefit
Products and services
- Credit Risk Classification (Clasificación de Riesgo) Primary service providing independent credit risk opinions on solvency of issuers and financial instruments (bonds, deposits, insurance obligations, fund quotas, securitizations, project financing) for banks, insurance companies, corporations, investment funds, and other entities in six Latin American markets.
- Feller ESG Assessment Independent evaluation methodology for assessing environmental, social, and governance risk factors and their potential impact on long-term organizational viability.
- Feller Scope MPD Certification Periodic independent evaluation under Chilean Law 20.393 verifying the adequate design, implementation, and operation of entities' crime prevention models.
- Scoring Financiero (Financial Scoring) Evidence-based financial scoring service supporting clients in making better financial decisions.
- Certificación Libre Competencia (Free Competition Certification) Corporate certification service focused on free competition compliance, helping organizations meet regulatory requirements.
- Valorización (Business Valuation) Business valuation service providing independent and evidence-based valuations for clients.
- Capacitación (Training) Training and professional development services delivered to client organizations.
- Estrategia (Strategic Consulting) Strategic consulting services tailored to client needs, enabling better decision-making.
- Feller Rate | SPO (Second Party Opinions) Second Party Opinions for green, social, and sustainability-linked debt instruments.
Quantifiable outcome
- 650+ entities classified across Latin American markets
- +2 more outcomes
Companies that use Feller Rate
Customer profileNamed customers10 records
Segments6 records
Ideal customer profiles3 records
Feller Rate technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Feller Rate partnerships and signals
Strategic signalScale indicators4 records
Recent moves8 records
Expansion highlights5 records
Feller Rate competitors and assessment
Company assessmentBroad incumbents
- DBRS Morningstar: Global credit rating agency rating financial institutions, corporates, and structured finance with growing Latin American presence. Comparable as a mid-tier global competitor in LatAm rating mandates.
- Fitch Ratings: One of the three major global credit rating agencies with active coverage of Latin American banks, corporates, and sovereigns. Comparable as a direct competitor in regional rating mandates but with much broader scope.
- Moody's: Global credit rating agency with sovereign, corporate, and financial institution ratings across Latin America. Comparable as a direct competitor in credit rating services for larger cross-border LatAm issuances, but with vastly broader geographic and product scope.
- S&P Global Ratings: Global credit rating agency following a similar methodology nomenclature to Feller Rate (AAA scale). Comparable as the dominant global rating competitor in Latin American capital markets for sovereign and large corporate debt.
Emerging players
- A.M. Best: Specialty credit rating agency focused on the insurance industry globally, including Latin American insurance carriers. Comparable as a sector-specific rating agency covering insurance obligations, an area where Feller Rate also has a dedicated Director Seguros team.
- ISS ESG: Institutional Shareholder Services' ESG ratings and Second Party Opinion provider. Comparable as a competitor in ESG assessments and SPO services for sustainable finance instruments in Latin American markets.
- Sustainable Fitch: Fitch's ESG ratings and sustainable finance opinion provider. Comparable as a competitor in the Second Party Opinion (SPO) and sustainable debt opinion space where Feller Rate | SPO operates.
Direct peers
- HR Ratings: Mexican credit rating agency (HR Ratings de México) rating banks, corporates, insurance, and structured finance in Mexico. Comparable as a regional LatAm rating agency competing for similar mid-market issuer mandates, though focused on Mexico rather than South/Central America.
- PCR Verum: Mexican credit rating agency rating corporates, financial institutions, and structured finance in Mexico. Comparable as a regional LatAm rating agency competing in similar asset classes with overlapping methodologies.
Regional players
- Equilibrium (Ecuador): Ecuadorian-based credit rating agency rating issuers in Ecuador and other Andean markets. Comparable as a regional LatAm rating agency operating in smaller markets with similar business model, though geographically distinct from Feller Rate's footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Feller Rate social profiles
Digital presenceFeller Rate financial estimates
Financial estimateRevenue estimate
Valuation estimate
Feller Rate leadership team
Management profileNumber of profiles
Profiles15 records
Feller Rate subsidiaries and ownership
Company hierarchySubsidiaries7 records
Feller Rate funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Feller Rate M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Feller Rate
What does Feller Rate do?
Feller Rate is a credit rating agency that provides independent risk classification opinions on the solvency of companies and financial instruments, including bonds, deposits, insurance obligations, fund quotas, securitizations, and project financing. The company also delivers complementary services such as ESG risk evaluations, Feller Scope MPD (Crime Prevention Model) certification under Chilean Law 20.393, and corporate consulting solutions including financial scoring, free competition certification, business valuation, training, and strategic consulting.
Is Feller Rate a public or private company?
Feller Rate is a private company. It is classified as family owned and is currently operating.
When was Feller Rate founded?
Feller Rate was founded in 1988. It employs 11 to 50 people.
Where is Feller Rate based?
Feller Rate is headquartered in Las Condes, Chile, in the Latin America region.
How does Feller Rate make money?
Four revenue lines are on record. Credit Rating Services are the primary driver. The others are feller Scope MPD Certification, feller ESG Evaluation and corporate Solutions.
Who are Feller Rate's main competitors?
Broad incumbents on record are DBRS Morningstar, Fitch Ratings, Moody's and S&P Global Ratings. Emerging players are A.M. Best, ISS ESG and Sustainable Fitch. Direct peers are HR Ratings and PCR Verum. Equilibrium (Ecuador) is listed as a regional player.
Does Feller Rate have an API?
No public API is recorded for Feller Rate.
What industry is Feller Rate in?
Feller Rate's product category is Credit Rating Services. Its primary akta.pro industry code is FSAKAKAG, Consumer Credit Decisioning & Underwriting Platforms, with a secondary code of FSAKAKAC, Credit Scoring Models & Score Providers. Its NAICS code is 561450 and its SIC code is 7320.