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European Banks To Discuss Issues With Rating Companies -FT

05/15/2012 | 05:28pm US/Eastern

Officials from as many as 20 top European banks are set to discuss plans Wednesday to deal with ratings companies, including the disclosure of information to some of the firms, the Financial Times reported Tuesday.

Top ratings firms--such as Moody's, Fitch and Standard & Poor's--"get privileged information," the FT cites a person familiar with the plan as saying. "In future, maybe they should only get a standard pack, putting everyone on equal footing."

The topic is on the agenda at a meeting of the CFO Network, a group of finance officers from Europe's top banks, according to the FT.

Full story at www.ft.com

-Dow Jones Newswires; 212-416-2900

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