At The Deal's Fifth Annual Private Capital Symposium, Diane Vazza, a managing director and head of global fixed-income research at Standard & Poor's, spoke about what her firm is doing to restore ratings credibility.
S&P itself has instituted 27 voluntary actions to raise credibility of the ratings for distressed investors, Vazza said. "These are not mandated by any regulatory authority, but the voluntary actions are items that managers at S&P served up based on concerns in the market that would help bring more transparency to the ratings and restore credibility to the ratings."
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