A Firms hand


With mark-to-market accounting firmly established, despite the havoc it caused to institutional balance sheets during the crisis, the financial industry needs reliable analysis not only of the credit quality of portfolios, but also of likely price movements. This, at least, is the thinking behind Lou Eccleston’s latest venture, Fixed Income Risk Management Services (Firms), a business owned by Standard & Poor’s but run separately from its troubled credit rating business.

Assessments of credit ri