The AMF is publishing its fifth annual report on credit rating agencies (CRAs), covering 2007 and the first nine months of 2008. The report is being released in an international context marked by major financial turmoil in the aftermath of the subprime crisis, which erupted in summer 2007. For several years the AMF has been calling for changes in the way that CRAs are supervised, and recent developments confirm the appropriateness of that approach.
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