EU watchdog cautions rating agencies over knee-jerk downgrades in pandemic
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LONDON (Reuters) - Credit rating agencies should avoid deepening the coronavirus crisis by quick-fire downgrades of countries and companies as the pandemic pushes economies into recession, the European Union's securities market chief said on Thursday.Steven Maijoor, chair of the European Securities and Markets Authority (ESMA) said the watchdog has intensified its interactions with rating agencies to understand how they are responding to the COVID-19 crisis.The pandemic has shut down large..