Several months ago I profiled Kroll Bond Rating Agency (KBRA), the new kid on the rating agency block. At the time I concluded that KBRA’s success and its impact on the rating industry remained to be seen and I documented several questions that would likely determine whether KBRA could revolutionize the ratings industry.

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"Kroll Gets Into Bond Gumshoe Biz, Faces Sticky Issues" by Yuval Bar-Or on Forbes.com

For some time I’ve been championing the idea that the best way to address the inadequacy of our credit rating industry is by abolishing the NRSRO designation. My argument is that this will end once and for all the artificial dominance of credit rating agencies (CRAs), forcing them to compete for clients, and allowing investors to benefit from credit risk measures generated by organizations that are looking out for investor interests first (that is, no issuer-pays conflicts).

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