Kathleen A. Corbet, Former President of Standard & Poor’s, Makes Strategic Investment in Rapid Ratings International, and Joins Its Executive Advisory Board

15 Jan 2009

James H. Gellert, President and CEO of Rapid Ratings International, announced today that Kathleen A. Corbet, former President of Standard & Poor’s, has joined Rapid Ratings’ Executive Advisory Board, and has also made an equity investment in Rapid Ratings through her private investment firm, Cross Ridge Capital, LLC.

As featured recently on Bloomberg, CNBC and Fox Business News, Rapid Ratings has provided accurate, early warnings – well in advance of other ratings organizations and market signals -- of impending problems for both public and private companies in all sectors since 1998, including recently the US Homebuilders, Pilgrim’s Pride, Circuit City, VeraSun, Bear Stearns, LyondellBasell, as well as earlier alerts on Enron, GM, Ford and many others. Such warnings enable financial institutions and corporate customers to more proactively manage their counterparty risks and to identify investment opportunities.

Ms. Corbet’s Strong Industry and Managerial Experience

“Kathleen Corbet is an outstanding addition to our advisory board,” Mr. Gellert said. “She brings the unique experience of running the largest information services and credit rating agency in the world, as well as over 20 years of strong prior experience in investment management, including her tenure as CEO of Alliance Capital’s fixed income division. Her investment in Rapid Ratings is additional validation of our unique contribution to the ratings and risk management markets. We’re honored to have her as an advisor and shareholder.”

Ms. Corbet, founder and principal of Cross Ridge Capital, stated: “The investment community needs objective, reliable and predictive assessments of credit risk and ratings. I am pleased to be an investor and a strategic advisor to Rapid Ratings – an organization that already has a credible and impressive track record with analytics that are applicable to equity and fixed income professionals and corporate risk managers – and I look forward to contributing to its growth as an invaluable resource for investment and risk management.”

Dr. Patrick Caragata, the founder and Executive Vice Chairman of Rapid Ratings, said: “Ms. Corbet’s career epitomizes innovation and execution. She will fit in perfectly at Rapid Ratings, where our success is based on operating outside existing rating agency paradigms.”

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