Ms Meredith Whitney, a former Wall Street analyst who became prominent with her bearish forecasts about banks before the credit crunch, plans to set up a credit rating agency according to an interview with the Financial Times

Whitney banks on the ‘issuer pays’ business model (as compared to ‘investor pays) as the only means to obtain scale.  She feels that if good compliance is in place there should be no conflict of interest.  She is seeking NRSRO certification as quickly as possible after creating ratings for corporate bond, structured finance instruments and US municipal bonds.    Source:  Financial Times

BIIA Newsletter November II – 2010 Issue