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Ratings Agencies Switch Analysts To Please Bankers And Issuers

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Ratings agencies are all too happy to please debt issuers by switching out analysts who don't understand that their job is to be "responsive" to the issuers, The Wall Street Journal reports. Although the Journal describes the practice as "infrequent," DealBreaker's sources disagree.
"This happens a lot more than the article lets on," one former employee at a ratings agency says.
At Request of Bond Issuers or Bankers, Credit-Rating Firms Switch Analysts [Wall Street Journal]