FISD Forms Ratings Group

Industry association FISD has set up a constituency group for credit rating agencies to develop best practices for regulatory compliance and act as a communication channel for the industry. The group initially comprises Standard & Poor’s, Moody’s and Fitch Ratings, but is open to participation from other NRSROs (Nationally Recognized Statistical Rating Organizations).

The move comes as the Securities and Exchange Commission proposed amendments to remove credit ratings from the criteria

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