May. 20, 2022
May 20, 2022 I support the proposed rule change. 1. Credit rating agencies have become obsolete due to ubiquitous availability of information in the marketplace. 2. Comparisons of ratings with measures derived from audited financials for the same companies suggest political influence in the awarding of ratings. It is hard to understand why they should be trusted. 3. Ratings as they stand may cause misallocations of capital in the marketplace, and skew investment allocations by funds, institutional retail investors.