Subject: File No. 4-661
From: Sean J Egan

May 10, 2013

May 10, 2013

SEC Complaint Center
100 F Street NE
Washington, D.C. 20549-0213

Re.: the May 14th Credit Ratings Roundtable and the Report on Assigned Credit Ratings to Congress dated December 2012

Dear Sirs:

I would like to compliment the SEC on the extensive study Report on Assigned Credit Ratings to Congress dated December 2012 and its conducting the May 14th Credit Ratings Roundtable. The study presents a fair, balanced, and thorough review of the advantages and disadvantages of the various approaches to managing the ratings process. What is clear is that there is no one ideal approach to addressing the area.

By holding the Credit Ratings Roundtable and providing the opportunity for submitting written comment, the SEC has offered the forum for discussing this complex area. Regardless of the outcome, in my opinion, the SEC has conducted a fair, thorough airing of the issues.

Very truly yours,

Sean Egan
President, Egan-Jones Ratings Co.