2008-04-12 11:51:41 -

- Fitch Ratings today issued a statement following the recommendations of the Financial Stability Forum (FSF), which were delivered earlier today to the G-7 Finance Ministers and Central Bank Governors at their meeting in Washington, D.C.

'Fitch commends the FSF on providing the market with thoughtful and wide-ranging recommendations to strengthen the world's financial system,' said Stephen W. Joynt,

Fitch's President and Chief Executive Officer.

Mr. Joynt continued: 'Fitch will work with the other rating agencies, world regulators and other market participants to respond to the FSF recommendations in a timely and comprehensive manner.'

'Fitch is also diligently working to respond to the other important recommendations to credit rating agencies such as those provided by the International Organization of Securities Commissions, the Committee of European Securities Regulators and the U.S. President's Working Group on Financial Markets.'

Mr. Joynt concluded: 'In the coming weeks, Fitch expects to finalize a variety of changes to our criteria, organization and practices, in response to these various recommendations and designed to enhance the independence, transparency and quality of Fitch's credit rating process.'

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

Fitch Ratings
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