Security and Exchange Commission (SEC) Report on their examinations of each Nationally Recognized Statistical Rating Organization (NRSRO) "Credit Rating Agencies" September 2011

This Report summarizes the examinations of each of the Nationally Recognized Statistical Rating Organizations (NRSRO) “Credit Rating Agencies”, conducted by staff from the U.S. Securities and Exchange Commission. This is a report of the Staff and, as such, reflects solely the Staff’s views. The U.S. Securities and Exchange Commission is making this Staff report public as required by the Exchange Act.