SEC Is Probing Egan-Jones Over Its Private Credit Rating Practices

For once the SEC, perhaps having finally learned its lesson from the Global Financial Crisis, or simply because it read one too many critical pieces in the press in recent weeks, is not waiting until the credit bubble bursts to warn the raters not to engage in rating shopping. Bloomberg, which was the first to highlight Egan-Jones' role in rating thousands of credit ratings in the multi-trillion private credit market, reports that the Securities and Exchange Commission has been scrutinizing Egan-Jones Ratin ...