US bond ratings agency to open European HQ in Dublin

The creation of 100 jobs is a ‘Brexit win’ according to IDA Ireland chief executive

US bond rating agency Kroll has signalled its intention to open its European HQ in Dublin. Photograph: iStock

US bond rating agency Kroll has signalled its intention to open its European HQ in Dublin. Photograph: iStock

 

US-based Kroll Bond Rating Agency (KBRA) will create 100 jobs in Dublin over the next three years as it opens its European headquarters in the city.

Established in 2010, KBRA is a credit rating agency with over 275 employees in offices across the US in New York, Pennsylvania and Maryland.

Since its inception, KBRA has published over 8,000 ratings for firms worth $740 billion. It primarily covers markets including structured finance, aviation, insurance, public finance and corporates.

The group’s Europe expansion comes in an effort to provide investors and market participants an “additional view on ratings accompanied by the most thorough, detailed, accurate and timely analysis.”

“KBRA is thrilled to open our first international office in a great city such as Dublin. We are so grateful for the city’s welcoming reception of our firm and we look forward to our growth within Dublin and across Europe,” said Jim Nadler, KBRA president and chief executive.

Referring to the move as a ‘Brexit win’, Martin Shanahan, IDA Ireland chief executive said it “indicates that financial institutions that may have previously chosen London now view Dublin as a viable post Brexit solution.”

“With the European economy growing faster than the American economy, now is the time to be optimistic about Europe and Ireland remains unwavering in its commitment,” he added.