Thank you for the question. If you do not mind, I will answer in English. Thank you.
Let me address the conflict of interest, because the honourable member raised that as well.
There's always a conflict, regardless of who pays you. The underwriters get paid by the issuer. The accountants get paid by the issuer. The lawyers who do an underwriting get paid by the issuer. So there's always conflict.
I think the key thing with regard to conflict of interest and who pays you is that you have separation between those who do the rating and the actual payment of the rating.
We at DBRS have long separated those two. In fact, we've taken it a step further. People who are on the analytical side don't even know if we get paid for the structure, or for the rating, or even how much. They're not even aware. So forget about negotiation. They're not involved in negotiation. They're not aware.