Trade bodies back credit rating agency reforms

Calls for changes to the 'nationally recognized statistical rating organization' (NRSRO) framework, much criticised since the downfall of Enron and other large US companies, were made in recent comment letters to the Securities and Exchange Commission (SEC) in response to the regulator's June concept release.

Credit rating agencies and associations, among others, responded to the SEC's concept release. However, the agencies and associations differ widely in terms of the degree and scope of c

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