Are you holding any investment grade bonds in your portfolio? If so you are directly rely on their (and other rating agencies) data. The fact that rating agenci

Are you holding any investment grade bonds in your portfolio? If so you are directly rely on their (and other rating agencies) data. The fact that rating agencies fucked up mortgage in 2008 doesn't mean they can't see other real problems. Also, if you're holding any high grade/investment bond ETFs you're very likely to own some mortgage backed securities in there.