Tag Archives: credit rating agency
credit rating agency: Latest News
Staff, 3:04 pm
Efforts to set up a BRICS credit rating agency hit a roadblock Sunday. China is concerned and not in favor. Some members worry about lack of credibility and access to dependable data as they take on Wall Street’s Big 3 — S&P, Fitch and Moody’s. Fraud charges against South African Finance Minister Pravin Gordhan have raised fears the country is moving closer to a junk rating by Wall Street credit ratings services.
Dana Sanchez, 2:07 pm
Fitch Southern Africa has cancelled its registration as a credit rating agency. The “Big Three” global credit rating agencies—U.S.-based Standard and Poor’s (S&P), Moody’s, and Fitch —have come under intense scrutiny in the wake of the global financial crisis. Fitch holds a negative outlook on South Africa’s sovereign rating of BBB, which is two levels above junk, and was due to publish an assessment in December.
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