SEC temporarily eases rules for issuers of asset-backed bonds

The Securities and Exchange Commission is aiming to help issuers of asset-backed bonds comply with rules that are part of the regulatory revamp by temporarily allowing them to omit credit ratings on their filings. Meredith Cross, director of the corporate-finance division at the SEC, said credit rating agencies are not allowing borrowers to include rankings in registration statements. "This action will provide issuers, rating agencies and other market participants with a transition period in order to implement changes to comply," Cross said.

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