Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, May 23, 2008

Rating Firms Switch Analysts at Issuers' Request

Additional evidence that raises doubts about the independence of the bond rating agencies -- all three rating companies, Moody's, Fitch, and S&P, acknowledge that on some occasions they have changed the analysts assigned to rate an issuer's bonds after the issuer or its bank requested it.  Various reasons where given, such as that the analyst did not respond to telephone calls or asked too many questions.  WSJ, At Request of Bond Issuers or Bankers, Credit-Rating Firms Switch Analysts.

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