The European supervisory authority, Esma, has just acknowledged that small rating agencies have not benefited from the regulations that were supposed to favour their emergence on a rating market crushed by S&P, Moody's and Fitch. In this Strategy Interview, Philippe Tastevin, deputy CEO of Qivalio, a French and European company, suggests ways to stimulate the market.
"European issuers must respect American beauty standards"
Philippe Tastevin: "It is peculiar that the ECB only uses US compasses as external decision support tools."