Fitch Ratings President and CEO Stephen Joynt today issued the following statement. Joynt's remarks were a response to comments made today by U.S. Secretary of the Treasury Henry Paulson in a speech at the National Press Club in Washington, DC. "We commend the President's Working Group on their thoughtful observations on the market events of the past several months," Joynt said. "We will continue, on our own and with our industry, to work with regulators, investors and other market participants to ensure that our ratings are the most transparent, useful and accurate that they can be."

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