Reforming Credit Rating Agencies: More Competition, Less Regulation or Both? A Proposal for Moving Forward

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R. Shyam Khemani, Ritha Khemani, Jan 28, 2014

While the root causes of various financial crises during the past two decades have differed, there have been recurrent questions regarding the possible role played by the Credit Ratings Agencies . Among the concerns that have been raised are: the highly concentrated nature of the credit rating industry, with the leading three CRAs (viz., Moody’s, S&P, and Fitch) accounting fo