On the Christmas Eve Standard & Poor’s (S&P) international credit ratings agency revised Russia’s sovereign credit ratings to credit watch negative from negative. It said it could downgrade Russia to the non-investment-grade (speculative-grade bond, or junk bond) as soon as mid-January. Is this assessment based on indicators reflecting the real state of Russian economy? Or is it another politically […]
Tag: Standard and Poor’s
Credit Rating Agencies’ Potential To Erase Sovereign Countries
The history of credible data collection for the needs of private businesses in the US was relatively short. The 1907 stock market crash was the watershed moment after which the dependence of credit rating agencies (CRAs) on powerful corporations and their complicity with the rated companies, especially the financial market […]
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