Chairman of Rapid Ratings International, Will Address Credit Rating Industry Reform and Oversight, At Senate Committee Hearing on Wednesday, August 5

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On Wednesday, August 5, 2009, James H. Gellert, Chairman and CEO of Rapid Ratings International, is scheduled to testify on "Proposals to Enhance the Regulation of Credit Rating Agencies" at a hearing of the U.S. Senate Committee on Banking, Housing and Urban Affairs. The hearing will be held at 9:30 a.m. in Room 538 of the Dirksen Senate Office Building.

The hearing will focus on ways to improve the regulation of credit rating agencies, including an assessment of a recent proposal by the U.S. Department of the Treasury, as part of the Investor Protection Act of 2009.

As demonstrated by the recent global financial crisis, the traditional ratings agency business model is broken, and requires corrective action to curb conflicted behavior by the "issuer-paid" rating agencies and to increase competition. Mr. Gellert has been widely quoted and interviewed on the benefits of having a stronger, more-competitive ratings agency industry.

Rapid Ratings International is an independent rating and analytics firm that provides ratings of thousands of companies' financial health for investment and risk management professionals, using a unique, proprietary quantitative ratings system. The firm's ratings have been demonstrated to provide early, actionable information so that investors can make more well-informed investment and trading decisions.

In addition to Mr. Gellert, witnesses at the August 5 hearing will include: Michael Barr, Assistant Secretary for Financial Institutions, U.S. Department of the Treasury; Professor John C. Coffee,
Columbia University School of Law; Mark Froeba, Principal, PF2 Securities Evaluations, Inc.; Stephen Joynt, President and CEO, Fitch Ratings; and Professor Lawrence White, Stern School of Business, New York University.

About Rapid Ratings International
Rapid Ratings International, based in New York City, is an independent rating and analytics firm that provides ratings of thousands of companies' financial health for investment and risk management professionals, using a unique, proprietary quantitative ratings system. Rapid Ratings' Financial Health Ratings (or FHRs™) measure a company's overall ability to remain competitive into the future and provide early, actionable information so that users can evaluate credit risk more accurately, as well as make more well-informed investment and trading decisions. Rapid Ratings' customers include corporations, as well as sell-side and buy-side financial institutions. More information on Rapid Ratings International can be found at http://www.rapidratings.com.

Rapid Ratings International
86 Chambers Street, Suite 701
New York, NY 10007
646-233-4600
http://www.rapidratings.com

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Lew Koflowitz
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