Credit Ratings Firms Fall Short of EU Rules, ESMA Says
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The European Union regulator that oversees Moody’s Investors Service, Standard & Poor’s and Fitch Ratings said credit rating companies are falling short of standards set by the bloc.
The European Securities and Markets Authority found failings in the “process of disclosure and implementation of changes” to the methodology used to rate the creditworthiness of Europe’s banks, the Paris-based agency said in an e-mailed statement today.