BNET Industries

Last Fiscal Year Sales:$300.0M
  • Private
  • US
Dow Jones Description

U.S. consumer credit quality measures worsened last month as credit card chargeoffs rose and cardholder payment rates slowed dramatically, according to the latest Credit Card Index results from Fitch Ratings. On a positive note, credit card ABS investors remain well protected from potential rating actions and early amortization scenarios. As such, Fitch expects credit card ABS ratings outlook to remain stable throughout 2009.

Chief Executive Officer
Stephen W. Joynt
Number of Employees 1,000
Contact Information

1 State St Plz

New York, New York 10004-1505

fitchratings.co...

(212) 908-0500

NAICS Code Miscellaneous Financial Investment Activities: 523999

Recent Events

  • Fitch Affirms Norfolk Southern IDR at 'BBB+'; Outlook Stable

    12/02/09 - Bond / Stock Rating - View Story

  • Fitch Rates Graham Packaging's Debt Issuance 'CC'; Places Ratings on Rating Watch Positive

    12/02/09 - Bond / Stock Rating - View Story

  • Fitch Affirms Egypt's Commercial International Bank at 'BB+'; Outlook Stable

    12/02/09 - Bond / Stock Rating - View Story

  • 17 Insurers See Ratings Changes

    12/02/09 - Bond / Stock Rating - View Story

  • Fitch Rates Riverside County, California's $75MM 2009 Teeter Obligation Notes Series C 'F1+'

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Rates Riverside County, California's $75MM 2009 Teeter Obligation Notes Series C 'F1+'

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Affirms Sand Creek Metro District, Colorado's LTGOs at 'BBB'; Outlook Positive

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch to Confirm S-T 'F1+' Rating on Oklahoma Turnpike Refunding Revenue Bonds, Series 2006C

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Rates Cemex's Proposed Senior Secured Notes 'B+/RR3'

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Upgrades Ford's Senior Secured Credit Facility and Term Loan to 'B+/RR1'; Outlook Positive

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Rates TELUS' Debt Issuance 'BBB+'; Outlook Stable

    12/02/09 - Bond / Stock Rating - View Story

  • Fitch Rates New Jersey EDA $27MM Rev Rfdg Bonds 'A+'; Outlook Stable

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Affirms Denver Urban Renewal Auth's Colorado Sr. Tax Increment Bonds 'BBB'; Outlook Stable

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Downgrades Cloverie Plc Series No: 2008-002; Assigns Outlook

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Rates Xerox's Proposed Notes 'BBB'; Outlook Negative

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Affirms Telefonica Chile's IDR at 'BBB+'; Upgrades National Scale to 'AAcl'; Outlook Stable

    12/01/09 - Bond / Stock Rating - View Story

  • Fitch Rates University of Maryland Medical System's Series 2010 Revenue Bonds 'A'; Outlook Stable

    12/01/09 - Bond / Stock Rating - View Story

News & Analysis

fitch ratings and r.h. donnelley corp. - All News and Analysis

Decision Makers

Name (plus bio) Position
Stephen W. Joynt Chief Executive Officer
Robert J Grossman Chief Credit Officer
Andrew Steel Managing Director
Brian Coulton Managing Director
Bridget Gandy Managing Director
David Marshall Managing Director
David Riley Managing Director
David Wharrier Managing Director
Edward Eyerman Managing Director
Ian Linnell Managing Director
John Bareiss Managing Director
John Hatton Managing Director
John Olert Managing Director
Keith Buckley Managing Director
Marion Silverman Managing Director
Mark Oline Managing Director
Olivier Delfour Managing Director
Peter Shaw Managing Director
Richard Hunter Managing Director
Roger Merritt Managing Director
Ann Flynn Senior Director
Erwin Van Lumich Senior Director
Gregg Katz Associate Director
Jance Casserly Manager, Hr
Daniel C Champeau
Frederic J Martucci
Michael Belsky
Robert Weisman
Olu Sonola Director
Paul Cohen Director
Tim Ockenga Director
Yibin Zhang Director

Board of Directors

Name (plus bio) Position
Stuart Jennings Board of Directors

Organization Position Status
Fitch Risk Chief Executive Officer Current
Algorithmics, Inc Chief Executive Officer Current
Fitch Ratings Chief Executive Officer Current
Fitch Ratings President Current
Fitch, Inc. President & CEO Former
Fimalac s.a. Executive Officer Former
The University of Arizona Bachelor of Science Degree In Business Administration Former

Organization Position Status
Journal of Investment Management Group Managing Director and Chief Credit Officer at Fitch Ratings Current
Fitch Ratings Chief Credit Officer Current
Fitch Ratings Group Managing Director Current
New York University MBA Former

Andrew Steel is a managing director of Fitch Ratings and is responsible for Fitch's energy, utilities, and project finance rating services in Europe, the Middle East, and Africa . His group rates issuers in all links of the upstream and downstream oil, gas, and power industries, as well as project finance transactions ranging from hospitals and schools to LNG. Prior to joining Fitch, Andrew was head of ABN Amro's structured industry finance, power, and utilities group for Europe, the Middle East, and Africa . He also worked for Edison Capital Europe as a private equity investment director, for PowerGen plc as a senior project finance manager, and in the banking sector as a mezzanine, leveraged buy-out and cross-border M&A lender. Andrew graduated from The University of Bristol with a BSc (Hons) in Psychology

Organization Position Status
Fitch Ratings Managing Director Current
University of Bristol Bsc (Hons) In Psychology Former

Brian Coulton is a managing director at Fitch Ratings and is head of EMEA (Europe, Middle East, and Africa ) sovereigns and global economics in the sovereign group. He is lead sovereign analyst for Italy and the other large European economies and co-ordinates Fitch's monitoring and forecasts for the global economy. Brian returned to Fitch's London office in August 2005 following a three-year secondment to Hong Kong as head of Asia sovereign ratings. During this time he established Fitch's Asian sovereign ratings unit and was responsible for regional sovereign credit issues and the agency's ratings of China , Hong Kong , Japan , and the Philippines . Prior to joining Fitch in 1999, Brian was an economic adviser at the UK Treasury in London . Brian has a Masters Degree in Economics from the University of Warwick and a BSc from the University of Wales .

Organization Position Status
Fitch Ratings Managing Director Current
University of Warwick Masters Degree In Economics Former
University of Wales Bsc Former

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

John Hatton is a Managing Director in the European Corporate group at Fitch Ratings in London. He is the Credit and Criteria Officer covering European and Asia for Corporates - a new role created in January 2008. Prior to this he was head of the European Corporate's Retail, Leisure and Consumer Products, Transport and Property teams. He has also been involved in many of the corporate and utility securitisations including the water transactions and the Eurotunnel debt repackagings. He has been instrumental in the close liaison between the agency's corporate and various structured finance teams. John has been co-author of Fitch's comments on bondholder documentation provisions including "Jumping the Queue - Ineffective European Bond Documentation Provisions" dated October 2003, "Change of Control - A Rating Agency Perspective" dated October 2006. Prior to joining Fitch in 1996, John worked for a foreign commercial bank for six years primarily lending through the syndication market to various UK corporates and LBO/MBOs.

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current
Vendormate Managing Director of Corporate Finance Americas Current
Fitch Ratings Co-Head of the Corporate Finance Group Current
Vendormate Board of Directors Current
Northwestern University Master of Management Former
Georgetown University B.S. In International Economics Former

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Managing Director Current

Organization Position Status
Fitch Ratings Senior Director Current

Erwin van Lumich is a senior director with Fitch Ratings and the deputy head of the energy, utilities & regulation team for the Europe, Middle East and Africa region. Based in Barcelona , he oversees all aspects of the rating process for a wide range of issuers across the region and coordinates publication of research. Regions of analytical focus include Iberia , the Netherlands and markets that are still at a relatively early stage of development. Prior to joining Fitch in 2000, Erwin worked in London as ratings advisor in Deutsche Bank's global markets division. As part of this role, he guided European issuers, many of which in the energy sector, through the rating process and helped them resolve capital structuring issues. Prior to this, he was a corporate analyst at Standard & Poor's. Erwin is a Dutch national and holds an MBA in economics and management from SDA Bocconi in Milan . He also studied finance in Utrecht and London . Erwin is a CFA charterholder and is fluent in a number of European languages.

Organization Position Status
Fitch Ratings Senior Director Current

Gregg Katz has been active in FSIX since 2002. In 2007, Gregg started planning FSIX events for Chicago. Currently Gregg is an Associate Director at Fitch Ratings in the structured credit group, where he has been for over three years. Gregg has a BS from New York University's Stern School of Business.

Organization Position Status
Fitch Ratings Associate Director Current
Derivative Fitch, Inc. Associate Director Current
Fsix Board of Directors Current

Organization Position Status
Fitch Ratings Manager, Hr Current

Organization Position Status
Fitch Ratings Current

Organization Position Status
Fitch Ratings Current

Organization Position Status
Fitch Ratings Current

Organization Position Status
Palm Beach County Government County Administrator Current
Fitch Ratings Current
Standard & Poor's Current
Palm Beach County Director Former

Organization Position Status
Fitch Ratings Director Current

Organization Position Status
Fitch Ratings Director Current

Organization Position Status
Eurocatalyst Board of Directors Current
Fitch Ratings Board of Directors Current

Tim Ockenga is a director within the european insurance team of Fitch Ratings and has been with the agency since September 2004. Based in Frankfurt, he is responsible for managing Fitch's German-speaking primary analysis and ratings in Germany, Switzerland, and Austria. Moreover, Tim is the European insurance representative on Fitch's global hybrid products committee. Prior to joining Fitch, Tim spent two years working for the German state bank Westdeutsche Landesbank (WestLB). Tim graduated in economics from the Katholische Universitat Eichstadt-Ingolstadt (WFI) with a masters degree (Diplom-Kaufmann) in finance and controlling.

Organization Position Status
Fitch Ratings Director Current

Dr. Zhang is the director of Global Quantitative Finance Research at Fitch Ratings, leading the research in the area of credit derivative and structured products. He joined TCFA in 1999 and has since actively participated TCFA activities, including help organizing the 2004 and 2005 TCFA annual conferences and workshops; co-heading the TCFA company gift-matching and volunteer incentive program in the last 2 years. As the treasurer of TCFA, he sits on the TCFA Finance and Accounting committee since 2004. In this role he manages TCFA funds, prepares tax filing and maintains TCFA non-profit status with IRS. Ben has also been unofficial "post master" of TCFA. Going forward, Ben would like to contribute more towards building TCFA regular networking events for members, including blogs, online community and in-person events. Ben holds Ph.D. in Financial Economics from Duke University. Before Fitch, He works at Moody's KMV.

Organization Position Status
China Finance, Inc. Director, Fitch Ratings Current
Internal Revenue Service Current
Fitch Ratings Director Current
Tcfa Treasurer Current
Chinese Finance Board of Directors Current
Duke University Ph.D. In Financial Economics Former

Executive News

  • Fitch Downgrades Bear Stearns 2007-PWR16; Assigns Outlooks and LS Ratings

    Business Wire - 9/01/09 - View Story

  • No pressure on Asian c.banks to reverse policy -Fitch

    Forbes.com - 9/01/09 - View Story

  • PRESS RELEASE: Fitch Thailand's Annual Conference 2009: Thailand Outlook 2010

    Morningstar.com - 8/31/09 - View Story

  • Fitch: Stuy Town/Peter Cooper Loan Performance Continues to Lag

    Business Wire - 8/28/09 - View Story

  • Fitch Affirms Allegheny County, PA Redevelopment Auth (Waterfront Project) at 'A-'; Outlook Stable

    Business Wire - 8/27/09 - View Story

  • Fitch Affirms Howell Township, Michigan LTGOs 'A'; Outlook to Stable

    Business Wire - 8/27/09 - View Story

  • PRESS RELEASE: Fitch Ratings to Host Annual Conferences in Bangkok, Singapore & Taipei

    Morningstar.com - 8/24/09 - View Story

  • 'Zombie Credits' Rise in Europe

    The Wall Street Journal Interactive Edition - 8/24/09 - View Story

  • Fitch Affirms Canton City School Dist, OH's ULTGO & Special Obligations TANs 'A-'; Outlook Stable

    Business Wire - 8/21/09 - View Story

  • PRESS RELEASE: Fitch: Austrian Bank Environment Challenging

    Morningstar.com - 8/18/09 - View Story

  • Fitch Affirms Produbanco's IDRs at 'B-/B'; Outlook Stable

    Business Wire - 8/14/09 - View Story

  • Fitch Rates Suffolk County, New York's 2009C Rfdg GOs 'AA-'

    Business Wire - 8/11/09 - View Story

  • Playing The Ratings Game

    Forbes.com - 8/10/09 - View Story

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