Timeline CRAs

  • Henry Poor: 1st publication. The American Railroad Journal

  • 1st CRA

    Dun & Bradstreet
  • 1st volume

    "Poor's manual of the railroads of USA"
  • Moody's

    • "Analyses of Railroad Investments".
    • Investor paying model.
  • Fitch

    Rating Scale
  • SEC origin

    New regulations
  • Issuer Paying Model

    Model change
  • NRSROs

    Big three recognition
  • CRA Growth & Expansion

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