SEC Proposes Quick Registrations Without Ratings

Law360 (February 9, 2011, 2:08 PM EST) -- The U.S. Securities and Exchange Commission proposed a rule Wednesday that would allow companies to issue securities “off the shelf” without receiving an investment-grade rating from credit ratings agencies.

The commission unanimously proposed the rule, which would allow companies that have issued $1 billion in nonconvertible securities in a three-year period to qualify for short-form registration of their securities.

The proposed rule, which closely mirrors a 2008 proposal that was shelved after complaints from companies, is part of the SEC's mandated rulemaking under the Dodd-Frank Wall...
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