Leaders of the BRICS bloc of states in Goa, India where they hatched the plan to launch a new credit rating agency.
The BRICS bloc of states have resolved to establish an alternative credit rating agency to counter western dominance in the financial markets. Will it work?
Credit rating agencies often elicit criticism when they downgrade countries.
Credit rating agencies have come in for a lot of flack. But the bottom line is that to attract investors with deep pockets countries can't avoid having a credit rating. And a good one at that.
Credit ratings agencies wield an enormous amount of social, economic and political power.
Evaluating the creditworthiness of countries is far from an exact science, yet the influence of credit ratings agencies is extraordinary. Recently, the UK government’s debt rating has been downgraded by…
Demonstrators in front of Standard & Poor’s credit rating agency offices in Paris 15 January 2012.
For decades, credit ratings agencies were largely ignored by the masses, but in recent months they have continued to hit the headlines again and again. The big three (Standard & Poor’s, Moody’s and…