New law to regulate rating agencies
The government gave notice at the weekend that the Treasury would be tabling legislation to govern credit rating agencies in South Africa.
Finance Minister Pravin Gordhan would pilot the legislation through Parliament but the cabinet has already given its nod to the Credit Rating Services Bill.
Economists.co.za director Mike Schussler said that if the legislation was intended to make credit agencies like Moody’s Investors Service or Fitch fearful of issuing negative ratings “it would be very disadvantageous”.
Treasury deputy director-general Ismail Momoniat said the legislation followed similar legislation in the EU regulating rating agencies, which had previously been unregulated.
He cited the example of agencies that had given triple-A ratings to financial institutions, failing to warn clients of the dangers of US subprime mortgages in 2007 and 2008.
However, Momoniat said it was not the Treasury’s intention to regulate “how they rate government agencies or the private sector”. The intention behind the legislation – which would be made available this week – would be to ensure that systems “are fair” and the agencies did their work transparently. – Donwald Pressly
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Credit Rating Agency - News
Moody's and S&P both placed the government's rating on review for possible downgrade in July. Fitch Ratings, the other major ratings agency, didn't place the government's rating under review amid the debt debate.
The question now is what will the international credit ratings agencies do. Ratings agencies like Standard and Poor's have threatened to downgrade the AAA credit rating of the US if $4 trillion worth of spending cuts aren't made by the US government.
The government gave notice at the weekend that the Treasury would be tabling legislation to govern credit rating agencies in South Africa. Finance Minister Pravin Gordhan would pilot the legislation through Parliament but the cabinet has already given
With increasing speculation that credit ratings agencies will downgrade US sovereign debt, and with the value of a number of European bonds approaching junk status, investors are now casting about for new and safer places to put their money.
Oakland County government will not lose its AAA credit rating, even if the nation's credit rating is downgraded. The rating agency Standard & Poors reaffirmed Oakland County's AAA bond rating Friday on $15260000 and $15050000 Oakland
Credit-rating agency won't downgrade U.S. just yet — Forex News ...
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RT @: The last-minute will keep the US from default but it still needs to be passed by Congress.Credit rating agency downgrades expected
RT @: The last-minute will keep the US from default but it still needs to be passed by Congress.Credit rating agency downgrades expected
The last-minute will keep the US from default but it still needs to be passed by Congress.Credit rating agency downgrades expected
Shaw Capital Management News:Smug credit rating agency perpetuated the... 
The credit rating agency and financial services company worth 2.6B$ is called "Standard & Poor" ??? ha!Credit Rating Agency - Bookshelf
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