International Organization of Securities Commissions

2:00AM
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Credit rating agencies came away from the global financial crisis with damaged reputations but they have since taken a step forward in redeeming themselves by showing their independence against their government regulators. To wit, Standard & Poor’s recently placed a negative outlook on the U.S. government and Moody’s warned that the U.S. will need to reverse the expansion of its debt if it hopes to keep its current rating.