The Chilean risk rating agency Feller Rate is set to establish a service hub in El Salvador, marking a significant milestone in the country’s economic transformation. Minister of Economy María Luisa Hayem announced the development on Saturday via her X account, expressing excitement about the agency’s arrival.
“Feller Rate’s establishment in our country is a key step in the transformation process of El Salvador,” Hayem stated, highlighting the agency’s potential impact on the local economy.
Feller Rate received authorization to operate in El Salvador from the Superintendency of the Financial System (SSF) last March. The agency expressed enthusiasm for entering the Salvadoran market, emphasizing its great potential. “With great joy and pride, we tell you that we have been authorized to operate in El Salvador. This is a market that we are very excited to address due to its great potential. We continue to grow!” the agency announced on its X account, @feller_ratesv.
Founded in 1988, Feller Rate is recognized for its expertise in credit risk assessment and financial consulting. The board of directors for its El Salvador operations includes Álvaro Javier Feller Schleyer as president director, Claudio Ricardo Salín Gudenschwager as secretary director, Carolina Cecilia Franco Sepúlveda as first director, and Alejandra Paz Islas Rojas as alternate director.
The agency’s entry into El Salvador is anticipated to enhance the country’s financial services landscape, providing valuable insights and ratings that could attract further investment and bolster economic growth.