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Q&A: Ray McDaniel & Brian Clarkson

The CEO and co-COO of Moody's Investors Service discuss how competition and regulatory pressures are changing the landscape for the credit rating agencies

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Q: How many rating agencies do you think the market needs?

BC: How many rating agencies do you think there are?

Q: Well there are four that have both the Ecai rating in Europe and the NRSRO rating in the US. But I presume there are more that don't have those authorisations?

BC: Most people don't know that. There are hundreds of rating agencies throughout the world. People focus on the NRSROs as

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