The ACT has responded to the European Securities and Markets Authority’s (ESMA’s) Call for Evidence on the Credit Rating Industry. Our comments highlight the importance of credit ratings to non-financial users of ratings and focus on issues raised in the call for evidence with implications that are unhelpful to corporates. Specific comments have been made on:
The response is on the record and may be quoted with acknowledgement of The Association of Corporate Treasurers. The EACT has also responded to this Call for Evidence and their response can be found here. To contact the ACT on this subject, please e-mail technical@treasurers.org.