Singapore - Eleven per cent of financial investment professionals queried have witnessed a credit-rating agency change its product ratings after pressure from clients, according to a poll published Wednesday.

There were 1,956 responses to the poll conducted by the CFA Institute Centre.

"We were very surprised by the results of our member poll," The Business Times quoted managing director Kurt Schacht as saying, noting that 211 of the respondents said "they have indeed witnessed a credit-rating agency change their rating in response to external pressure."

The CFA Institute is an association for finance professionals.

Moody's, Standard & Poor's and Fitch are among the major agencies that have come under criticism in recent months.

Critics maintain that the agencies awarded good ratings to sub- prime-linked securities, including many that subsequently failed.

Nearly half of the poll respondents supported the use of different rating scales for structured products.

"A different rating scale is an essential aid to trustees and fiduciaries, to help them evaluate and quantify the amount of exposure they desire," James Allen, director of the CFA Institute's capital markets policy group, said in the newspaper's report.

The agencies "have more than just a perception problem about processes and integrity," he said. (dpa)