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GlobalOptions and Rapid Ratings International Announce Strategic Business Alliance to Provide Financial Risk Information
NEW YORK--(BUSINESS WIRE)--Feb. 24, 2009-- GlobalOptions Group, Inc. (NASDAQ: GLOI), a leading provider of domestic and international risk mitigation and management services, and Rapid Ratings International, an independent ratings and analytics firm, today announced a strategic business alliance under which GlobalOptions will offer Rapid Ratings’ Financial Health Ratings (FHRsTM) and Estimated Probabilities of Default (EPDs) to its existing and prospective clients as part of its portfolio of high-end risk mitigation services.
Rapid Ratings produces research and analytics for over 3,400 public companies, and private companies upon request through its FHRTM and EPD products. These products will allow GlobalOptions’ clients to proactively monitor the financial health of their corporate customers and suppliers, competitors and acquisition targets.
“The addition of Rapid Ratings’ products provides GlobalOptions’ clients access to a world-class system for measuring the financial health of their vendors and customers and for estimating the probability a company will deteriorate, go into default, turn around or improve in financial health,” said Dr. Harvey Schiller, chairman and CEO of GlobalOptions. “We are confident Rapid Ratings’ best-in-class research services will become a vital addition to our risk mitigation service offerings and will further position GlobalOptions as the premiere risk mitigation company.”
“GlobalOptions offers Rapid Ratings the opportunity to partner with a company with an outstanding reputation that has become a leader in the risk mitigation marketplace,” said James H. Gellert, Chairman and CEO of Rapid Ratings. “Rapid Ratings is seeing dramatic growth in our corporate business and this strategic alliance creates a channel for us to corporate boards, senior executives and risk managers as part of a comprehensive risk mitigation suite of products and services. We are excited about the opportunity to work with GlobalOptions and look forward to providing its clients with our industry-leading insight into public and private corporate financial health.”
About GlobalOptions Group, Inc.
GlobalOptions, with headquarters in New York City and offices in 16 cities, is an integrated provider of risk mitigation and management services to government entities, FORTUNE 1000 corporations and high net-worth and high-profile individuals throughout the world. We enable clients to identify, assess and prevent natural and man-made threats to the well-being of individuals and the operations of governments and corporations. In addition, we assist our clients in recovering from the damages or losses resulting from the occurrence of acts of terror, natural disasters, fraud and other risks. We deliver risk mitigation and management services through four business units: Preparedness Services; Fraud and Special Investigations Unit Services; Security Consulting and Investigations; and International Strategies. Additional information can be found at www.globaloptions.com.
About Rapid Ratings International
Rapid Ratings International, based in New York City, is an independent rating and analytics firm that provides ratings of thousands of companies’ financial health for investment and risk management professionals, using a unique, proprietary quantitative ratings system. Rapid Ratings’ Financial Health Ratings™ (or FHRs™) measure a company’s overall ability to remain competitive into the future and provide early, actionable information so that users can evaluate credit risk more accurately, as well as make more well-informed investment and trading decisions. Rapid Ratings’ customers include corporations, as well as sell-side and buy-side financial institutions. More information on Rapid Ratings International can be found at www.rapidratings.com.
Source: GlobalOptions Group, Inc.
PR: Lippert/Heilshorn & Assoc. Jules Abraham, 212-838-3777 jabraham@lhai.com or IR: Jody Burfening, 212-838-3777 jburfening@lhai.com
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