Credit Rating Agencies Form New Trade Group

August 16, 2011 by · Leave a Comment
Filed under: The Rating Agencies 

The Credit Rating Agency Constituency Group (CRA-CG) is a new constituency group for credit rating agencies that currently includes Moody’s Investors Service, Fitch Ratings, and Standard & Poor’s. The group has been formed within the Financial Information Services Division (FISD) of the Software & Information Industry Association (SIIA), and the CRA-CG is open to having other Nationally Recognized Statistical Rating Organizations join.

According to their press release, the CRA-CG’s mission is to “develop best practices regarding compliance with regulatory requirements and facilitate communications within the credit rating industry with its various stakeholders.”

FISD Managing Director Tom Davin welcomed the new group and said that this is the ideal forum for the credit rating agencies to discuss the challenges facing their industry. “Those challenges have been the subject of significant legislative, regulatory and media attention over the past two years. We are delighted to be able to provide a home for these companies as they confront a new and more challenging business environment.”

Moody’s Walt Winrow, Group Managing Director Global Project & Infrastructure Finance added, “the credit rating agencies really need a setting to discuss critical issues among our peers, and FISD/SIIA can provide a productive home for us.”

Speak Your Mind

Tell us what you're thinking...