CHICAGO - Standard & Poor's has formed a risk oversight committee, created an analyst rotation program, and is requiring additional loan level data from issuers of new resident mortgage-based securities as part of its efforts to improve credit transparency, the company reported last week.

The rating agency said the report marked a first in a series of updates it plans on various initiatives first announced in February that it has said are aimed at improving transparency in hopes of restoring investor confidence in the ratings process.

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