The U.S. Securities and Exchange Commission has issued orders granting the registrations to seven credit rating agencies as nationally recognized statistical rating organizations.

The seven firms registered as NRSROs are: A.M. Best Company, Inc.; DBRS Ltd.; Fitch, Inc.; Japan Credit Rating Agency, Ltd.; Moody’s Investors Service, Inc.; Rating and Investment Information, Inc.; and, Standard & Poor’s Ratings Services

The Credit Rating Agency Reform Act and the commission’s new rules require registered credit rating agencies to disclose their procedures and methodologies for assigning ratings. The NRSROs are also required to make public certain performance measurement statistics including historical downgrades and default rates.

“The commission’s newly-granted oversight of credit rating agencies will protect investors and enhance the reliability of credit ratings by fostering accountability, transparency, and competition in the credit rating industry,” said SEC chairman Christopher Cox, in a release.