All three rating agencies addressed demands for creating a unified rating system last week, answering the calls that have echoed in the wake of the auction-rate security crisis and the congressional hearing convened earlier this month.

On Thursday, Fitch Ratings named Robert Grossman to head a review of "harmonizing" the corporate and public finance rating scales and Moody's Investors Service issued a request for comment on a new policy that would assign both a municipal rating and a global rating scale to an obligation upon issuer request.

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