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Prohibiting unsolicited sovereign debt ratings and setting up a body to rate the creditworthiness of EU member states are among the key suggestions that Leonardo Domenici (S&D, IT), the leading MEP on new legislation on credit rating agencies, will present to the Economic and Monetary Affairs Committee on Wednesday.
MEPs will also debate how to reduce reliance on ratings, resolve conflicts of interest, and how the methodology of ratings prepared by rating agencies can be assessed by European Securities and Markets Authority (ESMA).
