Egan-Jones Ratings Company
Egan-Jones Ratings was founded in 1995 to issue timely, accurate ratings. The firm rapidly gained credibility by flagging the failures of Enron and WorldCom and has since established itself as a leading global provider of credit ratings. Egan-Jones is a Nationally Recognized Statistical Rating Organization (NRSRO) and is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider. Egan-Jones Proxy Services is a leading proxy advisor, offering investors vote guidance, vote execution, and reporting.www.egan-jones.com
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Search complete. 17 mentions across 5 episodes found for "Egan-Jones Ratings Company".
Sep 15, 2026
Teddy DowneyHOST
Actually, what they did was they said, let's have more competition without coming up with a new system.
Teddy DowneyHOST
And so you now have Egan Jones of the world and other rating agencies that are in more of a frantic race to the bottom.
Teddy DowneyHOST
for fees to rate assets even worse than they did in 2008.
Teddy DowneyHOST
In my opinion, you've got more, instead of having like rules for competition, you just have more of these companies and they're in a race to the bottom.
8 MINS LATER
Nick NiemannGUEST
How much relies in our system on ratings agencies? Okay, well, one, as somebody who does fundamental research, forensically in some cases, but I'm looking through financial statements every time I look at a company, I'm like, why can't other people do this? Why don't we just rely that it's investment grade? On some ratings agencies, when I talk to them, I'm like, I ask them questions.
Nick NiemannGUEST
They have the right answer.
Nick NiemannGUEST
And I'm like, why is this not reflected in your report? They're like paid to be dumb because the incentive of rating agencies, especially when you have Kroll and Egan Jones come in, they got to get business, you know? So the fact that so much of our credit system is based on what a letter grade and these companies will move so slowly to upgrade or downgrade both directions.
Nick NiemannGUEST
It's a very inefficient system.
Nick SchmitzGUEST
Our team were asked to build our own set of policies that mirror the guidelines of the bishops.
Nick SchmitzGUEST
We're also on ISS, Glass-Lewis, Broadridge, and Egan Jones now.
Nick SchmitzGUEST
So essentially everywhere.
Rob WestHOST
Incredible.
Hayes DavenportHOST
You've heard of, like, Fitch, and Moody's, and Standard & Poor's.
Hayes DavenportHOST
Wall Street Journal found that they use a company called Egan-Jones a lot, and they used it to rate their American Media Productions debt, the SportsNet company debt.
Hayes DavenportHOST
And Egan-Jones gave this debt, gave American Media Productions a BBB, which is just barely investment grade.
Hayes DavenportHOST
It's one notch above junk.
Hayes DavenportHOST
Two former employees are suing Egan-Jones at the, like, at, at the same time, saying that the company pressured staff to inflate ratings to gain business.
Antonia CereijidoHOST
In this specific case, or across the board?
Hayes DavenportHOST
Across the board.
Antonia CereijidoHOST
Whoa.
Brandon BajemaHOST
Genius.
Brandon BajemaHOST
Another related story that we've talked about in the past is Egan-Jones, which is a big rating agency.
Brandon BajemaHOST
Not, I shouldn't, actually, I shouldn't say that, a big rating agency.
Brandon BajemaHOST
They rate a lot of stuff, but they're not very big, which has gotten them in hot water 'cause a lot of people think that their, that their ratings-
John CassidyHOST
Oh, right
Brandon BajemaHOST
... um, this was, this was a late add.
Brandon BajemaHOST
Uh, uh, Egan-Jones was denied its request to place ratings on government debt and asset-backed securities, two asset classes that it was legally denied, um, to place ratings on in a 2013 settlement with the SEC, the DOJ, where it denied any wrongdoing but settled with some fines and agreed to not place ratings on government debt and ABS for, for over a decade.
Brandon BajemaHOST
Now they're reapplying for that, and the SEC and DOJ said at the time that basically, "You guys are not actually looking at this shit.
Hayes DavenportHOST
You've heard of like Fitch and Moody's and Standard & Poor's.
Hayes DavenportHOST
Wall Street Journal found that they use a company called Egan Jones a lot.
Hayes DavenportHOST
And they used it to rate their American Media Productions debt, the Sportsnet company debt.
Hayes DavenportHOST
And Egan Jones gave this debt, gave American Media Productions a BBB.
Hayes DavenportHOST
which is just barely investment-grade.
Hayes DavenportHOST
It's one notch above junk.
Hayes DavenportHOST
Two former employees are suing Egan Jones at the same time, saying that the company pressured staff to inflate ratings to gain business.
Julia TurnerPANELIST
In this specific case or across the board?