• 24-JAN-2012

Credit Rating Agencies: MEPs Discuss Debt Downgrades

Recent downgrades of sovereign credit ratings have been heavily criticised by some EU political leaders for exacerbating the debt crisis afflicting a number of EU Member States. The agencies responsible for assessing the creditworthiness of governments have come under the spotlight this week at a hearing organised by the European Parliament's economic and monetary affairs committee. The European Commission has proposed tighter regulation of rating agencies, whereas the agencies themselves have defended their role in advising investors about risks.