Credit Ratings and Credit Rating Agencies

Resource type: Practice Note

Status: Maintained

Jurisdiction: USA

This Note reviews credit ratings, the operations of the nationally recognized statistical rating organizations (NRSROs) and the SEC's proposed and adopted rule amendments  for NRSROs (including those required by the adoption of the Dodd-Frank Act).  An NRSRO is a credit rating agency that has registered as such with the SEC. 

On May 18, 2011, the SEC proposed rules under the Dodd-Frank Act intended to increase transparency in and improve the integrity of credit ratings, in particular the credit ratings of structured finance products such as asset-backed securities (ABS). The proposed rules would amend existing rules governing credit ratings and NRSROs to improve the accuracy of credit ratings applied to structured financial products and minimize the mismanagement of risk by financial institutions and investors. See Legal Update, SEC Proposes Rules on Credit Ratings by NRSROs and Creates New ABS Due Diligence Requirements. This Note will be updated to reflect these rules after they have been adopted in final form by the SEC.

PLC Corporate & Securities


 

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  • Resource ID: 7-382-1002
  • Products:  PLC US Corporate & Securities, PLC US Finance, PLC US Law Department
  • This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.
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