The U.S. SEC has adopted a rule that requires NRSROs to make rating histories available: Rule 17g-7(b) (the “100% Rule”). This rule is summarized below. The full text of the rule is available here.
The 100% Rule: Under the 100% Rule, if the NRSRO was registered with the SEC on or before June 15, 2015, an NRSRO must disclose and keep publicly available on its corporate Internet Web site rating histories for each outstanding credit rating that was initially determined by the NRSRO either on or after June 15, 2012. If the NRSRO is registered with the SEC after June 15, 2015, then the NRSRO must disclose and keep publicly available on its corporate Internet Web site rating histories for each credit rating that was outstanding or initially determined by the NRSRO three years prior to its registration for the applicable class of credit rating. The 100% Rule applies to all credit ratings assigned by NRSROs, regardless of who paid for the credit rating. The ratings action information must be disclosed: (a) within 12 months for rating actions where the rating was paid for by the obligor or the issuer, underwriter or sponsor of a security; and (b) within 24 months for other rating actions.
Click here to download the 100% XBRL (eXtensible Business Reporting Language) ratings history file.