Press Releases; Governance & Regulatory Affairs
DBRS Comments on SEC Credit Rating Standardization Study
DBRS has provided its comments on the Credit Rating Standardization Study that the Securities and Exchange Commission (Commission) is required to undertake pursuant to Section 939(h) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).
This provision requires the Commission to study the feasibility and desirability of standardizing credit rating terminology and standardizing and streamlining certain quantitative measures. Within one year of enactment of the Dodd-Frank Act, the Commission must submit to Congress a report containing the findings of the study and the Commission’s recommendations, if any, with respect to the study.
DBRS suggests that such credit rating standardization is neither desirable nor feasible.
DBRS’s comment letter is available on www.dbrs.com under Regulatory Affairs.
DBRS has its headquarters in Toronto, with offices in New York, Chicago and London, and covers entities worldwide.