Newsletter Feb 2008: Rating agencies unveil their reforms as pressure rises

Under heavy fire from investors, regulators and politicians, the three leading credit rating agencies – Moodys Investor Services, Standard & Poor’s (S&P), and Fitch Ratings – are all now pushing forward with reforms to their rating practices for structured finance products. Methodologies are being revised in some cases. More differentiated ratings are being considered for structured products by Moody’s, while S&P is taking action to “enhance governance,” among other measures.