Credit Rating Agencies in the Line of Fire?

ESMA has issued a ‘Call for Evidence’ to help find ways of increasing competition, broadening choice and minimising conflicts of interests in the credit rating agencies industry.

Key Points

  • Improving the workings of the credit rating agencies industry
  • ESMA’s objectives
  • A good idea or a pipe dream?
  • Rotation
  • A passport to the capital market
  • Does the ‘Issuer-Payer’ model have any justification?
  • Other potential improvements
  • “Who rates the raters?”


Written by

François Masquelier
Head of Corporate Finance and Treasury, RTL Group, and Honorary Chairman of the European Association of Corporate Treasurers
RTL Group



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