FIX SCR

What FIX SCR does

FIX SCR is a credit rating agency (Agente de Calificación de Riesgo) that operates as the local affiliate of Fitch Ratings in Argentina, Paraguay, and Uruguay. The company is registered with the Comisión Nacional de Valores (CNV) in each country: CNV No. 9 in Argentina, Cod. Inst. 7402 in Uruguay, and Resolución CNV No. 1E/16 in Paraguay. FIX SCR generates revenue by charging issuer fees for credit rating assignments and ongoing surveillance, and it sells to corporate issuers, banks and financial institutions, insurance companies, investment funds, mutual guarantee societies (SGRs), structured-finance vehicles, and provincial and municipal governments. Named customers include Banco de la Nación Argentina, Banco Galicia y Buenos Aires, Banco BBVA Argentina, Banco Comafi, Banco Santander Argentina, Pluspetrol, Pampa Energía, and Sancor Cooperativa de Seguros, plus a large set of investment funds.

The company's product portfolio spans nine distinct rating lines: Corporate Finance, Financial Entities, Insurance, Investment Funds, Mutual Guarantee Societies (SGRs), Structured Finance, Public Finance, and Sustainable Finance / ESG (green, social, sustainability, and sustainability-linked bonds), supplemented by sector research reports and outlooks. The underlying technology is a methodology-and-criteria stack, not a software platform: there is no public API, no disclosed integrations, and no AI/ML components, and the firm does not publish SaaS-style product assets. FIX SCR distributes ratings through its website, a newsletter subscription service, a Twitter/X account, and hosted industry events such as "Fitch on Argentina," and the firm maintains a small employee base (11-50) across offices in Buenos Aires, Montevideo, and Asunción.

The business model is B2B issuer-pays professional services, with no public pricing disclosure. Fitch Ratings is the parent/affiliate and the strategic flagship partnership, providing global methodologies, brand recognition, and cross-border investor reach, while FIX SCR delivers local market expertise and regulatory compliance in each jurisdiction. The privately held company has no disclosed funding rounds, revenue figures, or board composition, and growth is evidenced primarily by a high and continuous cadence of new-issue and surveillance rating actions rather than by financial metrics.

Name

FIX SCR

Legal name

FIX SCR S.A. Agente de Calificación de Riesgo

Website

https://fixscr.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

FIX SCR is a credit rating agency operating in Argentina, Uruguay, and Paraguay as the local affiliate of Fitch Ratings. It provides issuer-paid credit ratings for corporates, banks, insurance companies, investment funds, structured finance, and public sector entities, supplemented by ESG and research services.

Ownership category

akta.pro rank

Product category

Credit Rating Services

NAICS

Credit Bureaus (56145)

SIC

Services-Consumer Credit Reporting, Collection Agencies (7320)

akta.pro primary industry

Structured Finance Ratings & Surveillance (FSACACAI)

Keywords

• Credit rating services
• Corporate debt ratings
• Financial institution ratings
• Investment fund ratings
• ESG bond ratings

Headquarters

HQ city

Buenos Aires

HQ country

Argentina

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D

Revenue model

1. Credit Rating Services: FIX SCR generates revenue through fees charged to issuers for credit rating services. The company assigns and maintains credit ratings for various financial instruments and entities, charging honorarios (fees) for these rating services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

FIX SCR is a credit rating agency (Agente de Calificación de Riesgo) that assigns and maintains credit ratings for corporates, banks, financial institutions, insurance companies, investment funds, structured finance instruments, public sector entities, and sustainable/ESG debt instruments in Argentina, Paraguay, and Uruguay. The agency operates as the local affiliate of Fitch Ratings, applying Fitch's global methodologies with local market expertise, and is registered with the securities regulator in each country. Fees are charged to issuers (rated entities) for rating services.

Product overview

FIX SCR is a credit rating agency (Agente de Calificación de Riesgo) affiliated with Fitch Ratings, operating in Argentina, Paraguay, and Uruguay with over 100 years of industry experience. The company offers a comprehensive suite of rating services organized by sector: Corporate Finance Ratings for enterprises and debt instruments; Financial Entities Ratings for banks; Insurance Company Ratings; Investment Fund Ratings across multiple categories (money market, fixed income, equity, infrastructure, PYME/small business funds); Mutual Guarantee Society (SGR) Ratings; Structured Finance Ratings for securitization products; Public Finance Ratings for provinces and municipalities; and Sustainable Finance/ESG Ratings including green, social, and sustainability-linked bonds. The ratings are complemented by research reports and sector outlook publications. FIX SCR does not offer a technology product or platform with integrations, APIs, or AI capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Corporate Finance Ratings (Finanzas Corporativas) Credit rating assessments for corporate entities and their debt instruments, including Obligaciones Negociables (Negotiable Obligations) issued in Argentina, Paraguay, and Uruguay.
• Financial Entities Ratings (Entidades Financieras) Credit ratings for banks and financial institutions operating in Argentina, Paraguay, and Uruguay, covering deposits and debt instruments.
• Insurance Company Ratings (Seguros) Credit ratings for insurance companies, including life, property, and casualty insurers operating in the region.
• Investment Fund Ratings (Fondos) Ratings for mutual funds, money market funds, fixed income funds, equity funds, infrastructure funds, and PYME/small business funds.
• Mutual Guarantee Society Ratings (SGRs) Credit ratings for mutual guarantee societies (Sociedades de Garantía Recíproca) that provide guarantees for SMEs.
• Structured Finance Ratings (Finanzas Estructuradas) Ratings for structured finance instruments including asset-backed securities, mortgage-backed notes, and other securitization products such as fideicomisos financieros.
• Public Finance Ratings (Finanzas Públicas) Credit ratings for provincial and municipal governments as well as public debt instruments issued in Argentina, Uruguay, and Paraguay.
• Sustainable Finance / ESG Ratings (Finanzas Sostenibles) ESG evaluations, green bond ratings, social bond ratings, sustainability bonds, and sustainability-linked ratings (Bonos SVS+) for thematic debt instruments.

Named customers9 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Fitch RatingsflagshipStrategic or Co-development PartnerFIX SCR is the local affiliate in Argentina, Paraguay, and Uruguay of the Fitch Group. The company operates under Fitch Ratings' global methodologies and criteria while providing local market expertise. This affiliation provides FIX SCR with global rating standards and international recognition while maintaining local regulatory compliance and market presence.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• DBRS Morningstar: Global CRA rating financial institutions, corporates, and structured finance. Comparable as a non-Big-Three global rating agency that competes for regional bank, sovereign, and securitization mandates in Latin America.
• Fitch Ratings: Global Big Three credit rating agency and parent of FIX SCR. Comparable as the originator of the rating methodologies and brand that FIX SCR deploys locally, and competes for the largest cross-border mandates in the same region.
• S&P Global Ratings: Global Big Three CRA with a regional presence rating Argentine, Uruguayan, and Paraguayan issuers. Competes for cross-border mandates and large sovereign/sub-sovereign ratings in the same jurisdictions FIX SCR covers.

Emerging players

• Egan-Jones Ratings: US-based alternative CRA rating corporates, financial institutions, and sovereigns. Comparable as a non-Big-Three global rating agency pursuing market share from incumbents in regional and cross-border mandates.
• A.M. Best: Specialist global rating agency focused on insurance company financial strength ratings. Comparable in the insurance ratings segment where FIX SCR maintains an active practice across Argentina and Uruguay.
• KBRA (Kroll Bond Rating Agency): US-headquartered CRA with growing structured finance and financial institutions franchise. Comparable in structured product rating focus and an emerging global alternative to the Big Three for cross-border Latin American mandates.

Direct peers

• Moody's Local: Latin American affiliate of Moody's providing local-currency credit ratings on corporates, banks, and public sector issuers in markets overlapping with FIX SCR (Argentina, among others). Closest direct competitor in the regional CRA space.

Regional players

• PCR (Pacific Credit Rating): Ecuadorian-rooted credit rating agency with operations across Peru and other Andean markets. Comparable regional CRA competing for Latin American cross-border and structured finance mandates.
• Feller Rate: Chile-based credit rating agency operating across multiple Latin American markets. Comparable regional CRA offering ratings on corporates, financial institutions, and structured finance, competing for Latin American cross-border mandates.
• Humphreys: Chilean credit rating agency rating issuers across the Southern Cone. Comparable as a South American-focused CRA addressing banks, corporates, and public sector entities in markets adjacent to FIX SCR's footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/FIXSCR
• LinkedInlinkedin.com/company/fixscr

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 FIX SCR