21/12/2007 (Agence Europe) - The European Parliament's parliamentary committee on economic and financial affairs is to hold a public hearing on Monday 14 January on financial rating agencies that note the financial soundness of companies quoted according to the risks entailed when they take out loans. The theme chosen for this public hearing is that of financial rating agencies: their determination, use and rating limits in structured financing. The roadmap adopted in October this year by the European finance ministers calls for the role of financial rating agencies in the classification of complex financial instruments to be carefully assessed (see EUROPE 9519). These agencies, the most important of which are American, were accused this summer of not having given sufficient warning of the risks involved in certain financial contracts that were the cause of financial upheavals due to the American sub-prime mortgage credit market. (M.B.)