Under Scrutiny - Regulators focus on credit

Well-publicised risk issues and a recent growth spurt have brought credit markets firmly under the scrutiny of global regulators. Nikki Marmery investigates whether the attention will prove to be a boon for attracting more investment - or a barrier to further development

The credit markets are attracting attention. From traditional equity-only investors looking to diversify portfolios in their quest for yield, to the broad financial press, seduced by the staggering growth statistics in credit derivatives or headline-grabbing news of hedge fund losses, all eyes are on credit. Many who are unused to examining the credit quality of companies such as Delta and Northwest Airlines, or the complex relationship between the ratings downgrades of GM and Ford and the