credit rating opinions?
Posted by ecoshift on July 5, 2011
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….
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.
Inside Job: Ratings Agencies