Egan-Jones Rating Company which rates the credit worthiness of thousands of US investment companies finds itself in trouble as the US Securities and Exchange Commission (SEC) recently barred them from issuing in any ratings. Egan-Jones rose the ladder of success quickly as it captured the Nationally Recognized Statistical Rating Organization (NRSRO) in 2007, a mere 12 years after it was founded.However, though it retains this status for its corporate users, the NRSRO is currently banned from rating asset backed securities and government...
