ECONOMY - FINANCE - BUSINESS / (ae) rating agencies

ESMA says rating agencies need to pull their socks up

Brussels, 18/03/2013 (Agence Europe) - In a report published on Monday 18 March 2013, the European Securities Markets Authority (ESMA) highlighted a number of areas where credit rating agencies must improve their performance. ESMA examined the methodology of the Big Three (Moody's, S&P and Fitch) and says they have not done enough to incorporate requirements laid down by EU rules in the fields of integrity, transparency and good governance, and must improve their internal organisation to be...