Ratings Firms Face Tougher EU Rules on Sovereign Debt
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European Union finance ministers and central bank heads are discussing whether government debt ratings “are necessary” as well as possible fines for rating agencies at a meeting in Brussels today.
The “economic and political implications” of sovereign-debt ratings mean “it is particularly important that ratings of this asset class be accurate, timely and transparent,” according to a copy of a proposal obtained by Bloomberg News to be presented by the European Commission at the meeting.