House Committee Approves Stricter Regulations for Credit-Rating Agencies (MCO)

Wed. October 28, 2009; Posted: 10:50 AM

Oct 28, 2009 (SmarTrend(R) News Watch via COMTEX) -- MCO | Quote | Chart | News | PowerRating -- 10/28/2009 - The House Financial Services Committee approved a bill that will impose stricter regulations on credit-rating agencies, a backlash from misleading safe ratings given to sub-prime-mortgage securities and other toxic assets, according to a MarketWatch report. One provision would require the companies to set up a board of directors that is one-third made up of outsiders with little or no connection to the company. Other provisions restrict ratings firms from consulting for companies that they are also rating, and another allows investors to sue raters for failing to carry out their methodology. Shares of Moody's (NYSE:MCO) rose 0.3% during early Wednesday trading.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Moody's Corporation (MCO) click here. Moody's Corporation (MCO) has Short Term PowerRatings of 5. Details on Moody's Corporation (MCO) Short Term PowerRatings is available at This Link.

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