If a credit rating agency
does not believe that a projected target can be achieved it will ask for the information upon which that projection has been calculated.
On September 22, the Senate approved by unanimous consent the Credit Rating Agency
Reform Act of 2006.
5 M, for the services of the Japan Credit Rating Agency
, which cover all activities having to do with Bulgaria's long-term foreign currency debts.
However, Pissarides said the Government should take serious note of the recent credit rating agency
warnings about Cyprus, noting that it has been said that one of the reasons behind these warnings is Cyprus' close economic ties with Greece as far as the banking system is concerned, something which, as he said, we can do nothing about.
Monday's fall was triggered by credit rating agency
Fitch's decision to downgrade Greece's credit rating to BBB+, the first time in 10 years that a major credit rating agency
had rated the country lower than A.
Also, if any additional nonrating services have been provided by the credit rating agency
or its affiliates to the registrant or its affiliates over a specified period of time, disclosure of the services and the fees paid for those services would be required.
In 2006, Congress passed the Credit Rating Agency
Reform Act that provided the SEC with authority to impose registration, recordkeeping, and reporting rules on credit rating agencies registered as Nationally Recognised Statistical Rating Organisations (NRSRO).
A credit rating agency
is supposed to gauge the creditworthiness of organisations issuing debt instruments such as corporate and government bonds, so that investors, banks, regulators and other market operators can use them to measure relative credit risk.
The credit rating agency
said net revenue may decline 20 to 30 per cent this year for investment banks.
Likewise, the Senate Banking Committee recently held hearings on credit rating agency
oversight and operations.
WHEN MOODY'S INVESTOR SERVICES, THE INTERNATIONAL credit rating agency
released its first ever report on Cuba in late May, the company was deluged with curious inquiries from media and investors alike.
Best believes that many of the provisions directed toward credit rating agency
reform will benefit the capital markets as a whole.