Hr Ratings

What Hr Ratings does

HR Ratings is a privately held credit rating agency founded in 2007 and headquartered in Mexico City, with a secondary regional office in Coral Gables, Florida. It is registered as a Nationally Recognized Statistical Rating Organization (NRSRO) with the U.S. Securities and Exchange Commission, authorizing its ratings for use under U.S. Regulation RR and equivalent regulatory frameworks. The agency provides forward-looking credit ratings, ongoing monitoring, and transparent methodology disclosure across six core verticals: Financial Institutions, Corporates, Public Finance and Sovereign Debt, Structured Finance, Infrastructure, and Sustainable Impact. Named rated entities include Mizuho Bank México, Grupo Comercial Chedraui, IQHQ-RaDD Holdings, Si-Crea Comercial, Fibra Educa, and several Mexican municipalities, with active rating actions continuing through July 2026.

The firm generates revenue through professional services fees from solicited rating engagements, including initial ratings, ongoing surveillance, and rating rationales, with pricing determined via direct engagement rather than public disclosure. Its go-to-market is sales-led, combining direct entity engagement with content marketing (economic analysis, sector reports, methodology publications, and a weekly newsletter), and it maintains active profiles on X, LinkedIn, and YouTube. Distribution occurs through a public website portal that makes ratings and methodologies accessible to market participants, alongside regulatory filings including 17g-7 disclosures.

HR Ratings has cultivated partnerships with the Climate Bonds Initiative (as an Approved Verifier), the UN Principles for Responsible Investment (as a signatory), and the NAIC (on data security standards). In June 2026 the agency disclosed a cybersecurity incident at the NAIC that potentially exposed information related to its insurance-sector rated entities, issuing follow-up communications on June 25 and July 6, 2026. The agency holds additional Mexican ESG and workplace recognitions (Empresa Socialmente Responsable, Super Empresas) and serves as an independent credit opinion provider for Latin American and select international issuers.

Name

Hr Ratings

Legal name

HR Ratings

Website

https://hrratings.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Credit Rating Services

SIC

Asset-Backed Securities (6189)

akta.pro primary industry

ESG Data, Ratings & Climate Benchmarks (FSAFAIAI)

akta.pro secondary industries

Structured Finance Ratings & Surveillance (FSACACAI), Carbon Credit Ratings & Due Diligence (Quality Scoring, Integrity Assessments) (EUABADAF)

Keywords

• Credit rating services
• Sovereign debt ratings
• Corporate credit assessment
• Structured finance ratings
• Infrastructure project ratings

Headquarters

HQ city

Mexico City

HQ country

Mexico

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Credit Rating Services: Revenue generated from providing credit ratings to financial institutions, corporations, public finance entities, structured finance vehicles, infrastructure projects, and sustainable impact entities. Services include initial ratings, ongoing monitoring, and rating rationales.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

HR Ratings is a credit rating agency that assigns credit ratings to debt issuances and performs credit analysis for government entities, financial institutions, corporations, structured finance vehicles, infrastructure projects, and sustainable impact entities. The agency provides forward-looking credit analysis, rigorous ongoing monitoring, and transparent methodology disclosure, operating as a Nationally Recognized Statistical Rating Organization (NRSRO) registered with the U.S. SEC.

Product overview

HR Ratings operates as a unified credit rating platform offering sector-specific rating services across Financial Institutions, Corporate Finance, Public Finance and Sovereign Debt, Structured Finance, Infrastructure, and Sustainable Impact. The company provides forward-looking credit analysis, rigorous ongoing monitoring, and full transparency in reporting and methodology. In addition to its core rating products, HR Ratings delivers economic analysis and sector reports, functioning as an integrated financial intelligence platform serving investors and issuers across the Mexican and international markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Institutions Rating Credit rating services for banks, credit unions, insurance companies, and other financial intermediaries, providing forward-looking analysis and ongoing monitoring of creditworthiness.
• Corporate Finance Rating
• Public Finance and Sovereign Debt Rating
• Structured Finance Rating
• Infrastructure Rating
• Sustainable Impact Rating
• Economic Analysis and Sector Reports

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Climate Bonds InitiativecoreStrategic or Co-development PartnerHR Ratings is recognized as a Climate Bonds Approved Verifier, enabling the agency to provide independent verification services for green and climate bonds under the Climate Bonds Initiative's certification standards.
• UN Principles for Responsible InvestmentcoreStrategic or Co-development PartnerAs a PRI signatory, HR Ratings commits to incorporating environmental, social, and governance factors into its credit rating analysis and corporate operations.
• NAIC (National Association of Insurance Commissioners)coreStrategic or Co-development PartnerCollaborative engagement with NAIC regarding data security standards and regulatory compliance for insurance sector credit ratings.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• S&P Global Ratings: One of the 'Big Three' global NRSROs issuing credit ratings across corporates, sovereigns, structured finance, and ESG. Directly competes with HR Ratings on Mexican and US cross-border mandates where it often serves as the lead rating.
• Fitch Ratings: Big Three NRSRO with particularly strong sovereign and bank rating franchises in emerging markets including Mexico. Directly competes for cross-border and local-scale mandates on Mexican issuers.
• Egan-Jones Ratings: Smaller NRSRO focused on corporate, sovereign, and ESG ratings. Comparable to HR Ratings in being a non-Big-Three NRSRO pursuing niche and emerging-market mandates.
• KBRA (Kroll Bond Rating Agency): Mid-tier NRSRO with a strong structured finance and insurance rating franchise. Most similar in size and growth profile to HR Ratings and a direct competitor on ABS, CLO, and US-Mexico structured deals.
• A.M. Best: Specialty NRSRO with a dominant franchise in insurance company credit ratings. Directly comparable given HR Ratings' collaboration with NAIC on insurance-sector ratings and data security matters.
• DBRS Morningstar: Mid-tier NRSRO with a notable franchise in structured finance and Canadian/Americas coverage. Competes with HR Ratings for structured product ratings and North American corporate mandates.
• Moody's Ratings: Big Three global NRSRO with full sector coverage including financial institutions, public finance, structured finance, and ESG. Competes head-to-head with HR Ratings for Mexican corporate, bank, and sub-sovereign mandates.

Regional players

• CARE Ratings: India-headquartered credit rating agency covering corporates, banks, and infrastructure. Comparable as a regionally dominant non-Big-Three rating agency with local-and-global scale offerings, though geographically distinct.
• Japan Credit Rating Agency (JCR): Japan-based NRSRO providing ratings across corporates, sovereigns, and structured finance. Comparable as an Asia-rooted regional NRSRO with global-scale offerings, analogous to HR Ratings' Latin American franchise.

Broad incumbents

• S&P Global Sustainable1: Broader ESG data, ratings, and climate analytics arm of a Big Three incumbent. Relevant adjacent player given HR Ratings' push into sustainable impact ratings and Climate Bonds verifier work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/HRRATINGS_US
• YouTubeyoutube.com/@HRRatings_CreditRatingAgency
• LinkedInlinkedin.com/company/hr-ratings-usa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 Hr Ratings