Fitch Solutions Buys Stake in Analytics Firm

Fitch Solutions has acquired an equity stake in Portsmouth Financial Systems, a Portsmouth, N.H.-based provider of advanced structured finance analytics. The terms of the transaction were not disclosed. "Portsmouth has developed a cutting-edge software platform that supports the modeling and analysis of structured finance transactions, with products ranging from collateral-level analytics to cash flow modeling tools," Fitch Solutions said. The platform has been beta-tested with investment banks, asset managers, and hedge funds, and production versions will be launched within a few months, the company said. Fitch Group, the parent company of Fitch Ratings, launched Fitch Solutions in January "to provide further separation of Fitch's analytical activities from its commercial activities" and to accelerate the development of fixed-income data and analytics solutions. The company can be found online at http://www.fitchsolutions.com.