Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Kroll launches new MBS bond rater
NEW YORK (1/20/11)--Jules Kroll has created Kroll Bond Ratings Agency Inc.--a new competitor for the Big Three credit rating firms of Standard &Poor’s, Moody’s Investors Service and Fitch Ratings. Kroll created the new firm in in 2004. The company has provided financial strength ratings to banks and credit unions and others through a boutique ratings company called LACE Financial--which it acquired in August. Wednesday was the first day it began rating individual securities through Kroll Bond Ratings (Dow Jones Newswires Jan. 19). Then new agency promises a more forensic approach to assessing risks of mortgage-backed securities and other structured -finance transactions, Dow Jones said. The exiting rating agencies avoid doing due diligence, Kroll, 69, said to Dow Jones, referring to the three better-known rivals: Standard & Poor’s, a unit of the McGraw Hill Cos.; Moody’s Investors Service (MCO); and Fitch Ratings, a subsidiary of Fimalac SA of France. The new firm has hired 30 people and plans to add 20 more, eventually expanding outside the U.S., starting with London and either Hong Kong or Singapore, Dow Jones said.


RSS





print
News Now LiveWire
.@NACHAOnline report: ACH volume increases to 23B payments in 2014 http://t.co/va2WYMh4Zv
11 hours ago
.@CUNA's @HampelBill in @washingtonpost on options for wary mortgage borrowers: http://t.co/CPSgTNgwmm
16 hours ago
Housing starts thaw, mortgage rates stand pat #Market #NewsNow http://t.co/hhPj5v5AH3
17 hours ago
.@CUNA files #RBC2 comment, urges #CU system to be heard #NewsNow http://t.co/yfoZHAMlZc
17 hours ago
#NewsNow Youth Month attracts 100,000th member for Mich. CU http://t.co/cgF5o83XlK
17 hours ago