| NEW YORK, April 23
NEW YORK, April 23 A Securities and Exchange
investigation will not affect the independence of credit ratings
from Egan-Jones, founder Sean Egan said on Monday.
"Our job is to get back to work and focus on providing
timely, accurate ratings and research. This will not have any
effect on the firm's independence or our commitment to call
credit quality as we see it, regardless of issuer," Egan said.
U.S. securities regulators have decided to bring an
enforcement case against credit-rating agency Egan-Jones,
alleging the firm made material misstatements in a 2008
regulatory application, the company's lawyer confirmed last
Egan-Jones is among the smallest U.S.-recognized credit
rating firms in an industry dominated by three major agencies:
Moody's Corp, McGraw-Hill Cos Inc's Standard &
Poor's, and Fimalac SA's Fitch.