The
EACT welcomes the European Commission’s initiative in publishing a working document for discussion and consultation purposes. Credit ratings play a key role in the financial system for issuers as well as investors, contributing to financial stability and supporting the prospects for growth. The provision of ratings underpins the pricing of debt and adds to market liquidity, both of which are key elements in open and competitive markets.
There is understandable concern, following the financial crisis of 2008, that change is needed.
EACT hopes that as the Commission moves forward to develop proposals it will take due account of what works well at present.
EACT relies on the ability of the Commission to make its considered judgment and refrain from endorsing proposals that may be politically attractive but lack substance in analysis and fact.
Full opinion
© EACT
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