The European Securities and Markets Authority, Esma, on Thursday issued a warning about practices surrounding Collateralised Loan Obligations (CLOs) in the EU. The supervisory body has found potential conflicts of interest and undue influence in the CLO rating process during the 2017-2021 period.
The Big Three credit rating agencies - Fitch Ratings, Moody's and S&P - are at the centre of this review.
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