Bloomberg News

ECB’s Nowotny Says Rating Companies’ Power Is ‘Problematic’

November 15, 2011

Nov. 15 (Bloomberg) -- European Central Bank Governing Council member Ewald Nowotny told Austrian state television ORF that ratings companies’ great power is “problematic” because their judgments are often wrong.

Nowotny also said in the interview that analysts from Moody’s Investor Services will be in Austria later this week for a visit that has been scheduled for a long time. Austria is one of the six remaining euro-area countries rated AAA by all major ratings companies.

To contact the reporter on this story: Boris Groendahl in Vienna at bgroendahl@bloomberg.net

To contact the editor responsible for this story: Ben Livesey at blivesey@bloomberg.net


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