Credit rating agencies quizzed over sovereign debt ratings
17 May 2011
The Director of Moody’s, and senior representatives of Standard & Poor’s and Fitch spoke to the Lords Committee for their inquiry into credit rating agencies and sovereign debt.
The following witnesses gave evidence;
- Moody’s Investors Services – Frederic Drevon, Managing Director, Head of Europe, Middle East and Africa
- Fitch Ratings – Paul Taylor, President
- Standard and Poor’s – David Beers, Managing Director & Global Head, Sovereign & International Public Finance Ratings –
Further information
The EU Economic and Financial Affairs and International Trade Sub-Committee inquiry into credit rating agencies and their influence on sovereign borrowing.
Credit rating agencies have come under close scrutiny since the onset of the financial crisis. EU legislation has already been amended to give the newly created European Securities and Markets Authority regulatory authority over credit rating agencies.