Fitch Adjusted Financials

Following the successful relaunch of the global website earlier this year, we continue to provide additional transparency for issuers, bankers and investors by adding Fitch Adjusted Financial data for the related Corporates sector.

This new dataset is available on all related Corporate entity pages on this website. When you visit a given entity page (Caterpillar in the example below) simply click on the new FITCH ADJUSTED FINANCIALS link on the left-navigation pane to navigate to the content. 

The new content provides a complete break-out of all the adjustments that Fitch analysts have made to bridge reported Financials to our Fitch Adjusted Financials. This section provides a comprehensive mapping of the Adjusted vs. Reported data and details how Fitch Ratings analysts arrive at a headline figure such as "Operating EDITDAR after Associates and Minorities" from the company's reported "Operating EBITDA" numbers by clearly delineating the various underlying adjustments made in each instance.

Furthermore, this section provides complete transparency into how we arrive at our Key Credit Ratios – full disclosure on which items we included in computing our leverage, coverage or margin ratios are computed.

Users have the ability to view the content conveniently on-screen as well as download the adjustments directly into Excel. In addition, a Currency Conversion feature exists whereby users can change the reported currency into the available currency of their choice based on the Reported Date.  

Fitch Adjusted Financials sections are currently available on a complimentary basis to all users of www.fitchratings.com. Read our Guide to Fitch’s Credit Metrics, Financial Terms and Adjustments. 

For more information, please Contact Us.