Rating Agencies Revise Indemnification Pacts with Issuers as Liability Risk Rises under Dodd-Frank Bill
July 2, 2010
Increased liability that comes with the Dodd-Frank Wall Street Reform and Consumer Protection Act has prompted credit rating agencies to rewrite the indemnification provisions of their service contract with issuers to cover new liabilities. Credit rating agencies are in the process of revising their engagement letters to reflect the new requirement, fearing increased...