Only 10 organizations in the world are labeled a Nationally Recognized Statistical Rating Organization (NRSRO)!

FORBES: U.S. Debt Rating Downgraded (Sort Of)

In fact, once this process picks up momentum the NRSRO designation could be dismantled.

FORBES: For Better Rating Agencies Go Back To Campus

Critics also argue that removing the NRSRO designation would disrupt markets, but a simple analogy dispels such claims.

FORBES: The Wrong Conversation About Credit Ratings Agencies

Abolishing NRSRO status will give alternatives an opportunity to thrive, encouraging a variety of providers to develop credit assessment solutions.

FORBES

Issuers could also end up ahead by paying for fewer NRSRO ratings.

FORBES: For Better Rating Agencies Go Back To Campus

Since the registration fee is much lower than that for an NRSRO rating, dropping just one of these ratings will yield significant savings.

FORBES: For Better Rating Agencies Go Back To Campus

The credential will be easier to obtain than NRSRO status.

FORBES: For Better Rating Agencies Go Back To Campus

Chairman Neugebauer did ask regulators about abolishing the NRSRO designation.

FORBES: The Wrong Conversation About Credit Ratings Agencies

This brings up an important distinction: abolishing the NRSRO designation means taking away the safe haven and barriers to entry which have served to protect a small number of firms.

FORBES: The Wrong Conversation About Credit Ratings Agencies

Only one panelist came prepared for the correct discussion: professor Larry White focused on what should have been the starting point of discussions three years ago: abolishing the NRSRO designation altogether.

FORBES: The Wrong Conversation About Credit Ratings Agencies

Fortunately, unlike advanced cancers which cannot be removed without irreparable damage to the patient, the NRSRO designation can be jettisoned, and alternatives do exist to assist in the healing and renewal process.

FORBES: The Wrong Conversation About Credit Ratings Agencies

Some wanted their NRSRO designations stripped.

FORBES: S&P: Don't Hate The Player, Hate the Game

Take away the NRSRO designation and the playing field levels out significantly: entrepreneurs pop out of the woodwork with creative ways to measure credit risk, and the market economy helps to select those new and innovative ideas which have the most merit.

FORBES: The Wrong Conversation About Credit Ratings Agencies