credit rating opinions?

With credit ratings agencies essentially poised to reject refinancing plans for Portugal and Greece it may be well to remember who pays the agencies’ bills — and, of course, who will actually bear the brunt of their ratings downgrades.  

After all — as the Youtube clip below clearly points out – agency credit ratings are merely opinions and not meant to guide investment decisions….

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NYTimes.com: Portugal’s Debt Rating Cut to Junk by Moody’s -

Moody’s Investors Service cut Portugal’s debt rating to junk status on Tuesday, ratcheting up the pressure on euro zone governments to work out a lasting solution to their financial woes.

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Inside Job: Ratings Agencies

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