Bloomberg News

German Banks Hit Out Against S&P Rating Fee Increases, FTD Says

August 16, 2012

German banks wrote to Standard & Poor’s complaining about the rating company’s fee increases, calling them no longer acceptable and non-transparent, Financial Times Deutschland reported today, without saying where it got the information.

The letter is also meant to be a signal to Moody’s Investors Service and Fitch, which follow a similar pricing policy, FTD said. Moody’s, Fitch and S&P control 95 percent of the German market. Banks that will face higher fees might be entitled to stretch those over several years, FTD wrote.

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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