Professor Ingo Walter is interviewed in Crain's New York Business on the dominance of the three main credit rating agencies: Standard & Poor's Rating Services, Moody's Investors Service, Inc. and Fitch Ratings Ltd. Newer rating agencies such as Kroll and Morningstar are vying for opportunities in this industry, as the reputations of the Big Three have been questioned in recent credit crises.
Professor Walter states, "This industry is almost winner-take-all. The global investor base uses them regularly, so it's very hard to not use them if you're a company." He argues that perhaps investors should conduct their own research instead of relying heavily on the analyses of credit agencies.
Read the full article in Crain's here: http://www.crainsnewyork.com/article/20120129/SUB/301299996#
Professor Walter states, "This industry is almost winner-take-all. The global investor base uses them regularly, so it's very hard to not use them if you're a company." He argues that perhaps investors should conduct their own research instead of relying heavily on the analyses of credit agencies.
Read the full article in Crain's here: http://www.crainsnewyork.com/article/20120129/SUB/301299996#
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