Experts discuss credit-rating issues at SEC roundtable

05/15/2013 | Reuters · Bloomberg · Wall Street Journal, The

The Securities and Exchange Commission held a discussion Tuesday regarding concerns about credit ratings. U.S. Sens. Al Franken and Roger Wicker called on the SEC to address issues with the big three rating agencies. "Despite frequent gridlock in Washington, Democrats and Republicans agree on the need for integrity in the credit-rating industry," Wicker said. Jules Kroll, head of Kroll Bond Rating Agency, said the biggest credit-rating agencies are once again sacrificing accuracy for profits, while Standard & Poor's Ratings Services President Douglas Peterson said an SEC proposal could create more issues.

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