Brussels, 02/12/2013 (Agence Europe) - On Monday 2 December, the European Securities and Markets Authority (ESMA) called for the three major ratings agencies - Moody's, Standard and Poor's and Fitch, the “Big Three” - to come fully into line with European standards on sovereign ratings methodology.
“ESMA's investigation revealed shortcomings in the sovereign ratings process which could pose risks to the quality, independence and integrity of the ratings and of the rating process”,...