Treasury Deletes References to "Credit Ratings" from the IRS Regulations (Fed. Reg.)

The U.S. Department of Treasury removed all references to, or requirement reliance on, "credit ratings" in the IRS Code pursuant to Section 939A ("Removal of Statutory Reference to Credit Ratings") of Dodd-Frank. Additionally, the Treasury Department added substitute standards of credit-worthiness where appropriate.

See: 78 FR 54758.