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Credit Rating Agencies and Nationally Recognized Statistical Rating Organizations (NRSROs)

May 31, 2013

A credit rating agency assesses the creditworthiness of an obligor as an entity or with respect to specific securities or money market instruments.  A credit rating agency may apply to the SEC for registration as a nationally recognized statistical rating organization ("NRSRO").  The SEC's Office of Credit Ratings administers the SEC's rules relating to NRSROs, in addition to performing various other functions with respect to NRSROs. To learn more about NRSROs, including a list of credit rating agencies currently registered as NRSROs, please visit the web page of the SEC's Office of Credit Ratings. There you can also find a variety of background materials, including SEC releases, reports, studies and orders, as well as the securities laws related to NRSROs.

We have provided this information as a service to investors.  It is neither a legal interpretation nor a statement of SEC policy.  If you have questions concerning the meaning or application of a particular law or rule, please consult with an attorney who specializes in securities law.

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