The Securities and Exchange Commission (SEC) has indefinitely extended its no-action letter allowing ABS issuers to sell these transactions without the inclusion of credit ratings in registration statements beyond January, 24, 2011.

The American Securitization Forum's (ASF) Executive Director Tom Deutsch issued the following statement in response to the SEC's decision today: “We applaud the SEC's action today to indefinitely extend their no-action letter to allow securitization issuers to omit credit ratings from their registration statements. Without this extension, the entire public securitization market would have closed in late January."

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