Egan-Jones Ratings Company is an American credit rating agency headquartered in King of Prussia, Pennsylvania, founded in 1995 by Sean Egan and Bruce Jones and designated a Nationally Recognized Statistical Rating Organization by the U.S. Securities and Exchange Commission in December 2007, the ninth firm to receive that status. Distinctively funded by investor subscribers rather than the issuers it rates, a structure meant to reduce conflicts of interest, the firm was among the first to downgrade WorldCom, Enron and Lehman Brothers ahead of their collapses, and in July 2011 it became the first NRSRO to downgrade the United States' sovereign credit rating from AAA to AA+; it is also registered with the European Securities and Markets Authority and listed on the UK Financial Conduct Authority's register.
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