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I think the only credible credit rating agency is Standard and Poor's. It'll be interesting to see how they react to this downgrade by Moody's.
by deepGem 9y ago
I think the only credible credit rating agency is Standard and Poor's. It'll be interesting to see how they react to this downgrade by Moody's.
- dis-sys 9y agoS&P is arguably worse - S&P was fined $1.5B for its shameful role before GFC, it refused to downgrade problematic assets because their business revenue relies on all those junk assets being rated AAA[1]. [1] http://www.bbc.com/news/business-31115174 http://www.bbc.com/news/business-31115174 Should I trust what S&P is saying given their track records like this?
- deepGem 9y agoOh man, thank you for bringing this to my attention. I thought they were the last credible source since they were the first to downgrade US sovereign rating in 2011 or 2012.