MSRB's proposal to post credit ratings on website gets SEC approval

By Lisa Kerner

Charlotte, N.C., Oct. 13 - The Municipal Securities Rulemaking Board said the proposed rule change it filed in May to provide for the posting of credit rating information on its Electronic Municipal Market Access System (EMMA) was approved by the Securities and Exchange Commission.

The information would be posted on the EMMA public website via a nationally recognized statistical rating organization data feed, according to an SEC news release.

MSRB would have no obligation to supplement, modify or confirm credit rating and related information received through the automated data feed.

MSRB responded to two comments received following publication of the proposed rule change in the Federal Register on June 2.

Publication of the approved rule change is expected in the Federal Register during the week of Oct. 18. The proposal will become effective by Oct. 13, 2011.

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