Financial Services Industry
Industry: Email Alert RSS FeedSmall ratings agencies hope for SEC seal.
Financial News, August, 2002
Small companies desperate to gain national recognition from the US Securities and Exchange Commission to issue credit ratings remain hopeful the regulator will soon start assigning its seal of approval as the end of the year draws closer.The hopes of small ratings agencies to gain the coveted status of 'nationally recognised statistical ratings organisations' (NRSRO) from the SEC have risen following the Enron scandal last year, amid increased scrutiny of the role of the 'big three' US rating agencies - Standard & Poor's, Moody's Investors Service and Fitch. These three agencies are the only ones that have regulatory approval, giving them a competitive advantage against a handful of smaller companies that also issue credit ratings.
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