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Credit-rating agencies Kroll, DBRS increase market share in asset-backed securities

( February 2, 2023, 18:46 GMT | Official Statement) -- MLex Summary: Medium-sized credit-rating agencies DBRS and Kroll Bond Rating Agency collectively had 26.3 percent of the ratings outstanding among asset-backed securities as of Dec. 31, 2021, up from 24.3 percent a year earlier, the US Securities and Exchange Commission said in its annual report on examination findings. These firms are the only two medium or small credit-rating agencies that actively rate asset-backed securities. Overall, however, barriers to entry continue to exist in the industry, with the three biggest agencies – Standard & Poor’s, Moody’s, and Fitch – accounting for 94.4 percent of all ratings outstanding as of Dec. 31, 2021.Statement and document follow below:...

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