A Ratings Quandary
The US Securities and Exchange Commission is set to hammer out several key provisions of the US Credit Rating Agency Reform Act, intended to increase transparency in the ratings industry. But some analysts are concerned the legislation could go too far. By Jayne Jung
Sean Egan, co-founder of Pennsylvania-based rating agency Egan-Jones, is ushering in the New Year with renewed hope that his firm will obtain the US Securities and Exchange Commission (SEC) designation as a nationally registered (previously 'recognised') statistical rating organisation (NRSRO). The status would mean that a company could use Egan-Jones' ratings to meet a wide swathe of SEC requirements pertaining to investing, bond issuance and net capital rules.
Egan's hope rests on the US Credit
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