Egan-Jones Probed by SEC Over Its Credit Ratings Practices

The US Securities and Exchange Commission has been scrutinizing Egan-Jones Ratings Co., according to people familiar with the matter, delving into the business practices of a leader in the fast-growing market for private-credit ratings.

SEC enforcement attorneys have been looking into whether the firm and some of its senior executives have exerted improper commercial influence on its ratings procedures, said the people, who asked not to be identified discussing the ongoing probe.

Officials in the agency’s complex financial instruments unit are involved in the investigation, the people said. The probe began during the Biden administration and has continued this ...