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Cushnie, Lorraine
September 2005
Lawyer;9/12/2005, Vol. 19 Issue 35, p17
Trade Publication
The article deals with the credibility of the credit rating agencies. The agencies found themselves under the spotlight and faced with the possibility of state regulation. Susan Launi, senior European counsel at Fitch Ratings Inc. feels that state regulations are both unnecessary and impractical because if the rating agencies didn't produce appropriate ratings the market wouldn't use them. Despite Launi's defense of rating agencies, the European Union Parliament recently asked the European Commission to look into rating agencies to see if any action needed to be taken regarding regulation. Despite all the safeguards, the ratings process is a tricky business and Launi admits that sometimes Fitch does get it wrong, but says the agency makes sure it covers its back.


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