ICI Applauds House Passage of Credit Ratings Agency Bill

Washington, DC, July 12, 2006 - Investment Company Institute President Paul Schott Stevens issued the following statement today on the House of Representatives’ passage of H.R. 2990, the Credit Rating Agency Duopoly Relief Act:

“We commend the House of Representatives for approving this bill, which paves the way for increased competition in the credit rating industry while providing vital investor protections. This legislation would help to ensure the integrity and quality of credit ratings, increase the transparency of the ratings process, and thereby enhance the efficiency of our capital markets.”