Thursday, August 23, 2018

The power of the credit rating agencies. - The financial markets tremble when the rating agencies disclose their ratings about the credit worth of a country. Government leaders lose their sleep over the rating of their country. But often the ratings of Moody's, S & P's and Fitch were incorrect. "It's just like making a rough estimate, giving a credit rating to a country is nothing but a board game." - Jerome Fons (Former Director of Moody's).