Friday, October 1, 2010
IMF report defends relevance and performance of global credit rating agencies
Posted by Find Insurance Online at 4:59 PMSeptember 30, 2010 | By Ethel HazelhurstThe role of credit rating agencies has often been controversial, with critics claiming they fail to alert investors of pending problems. However, in a report out yesterday, the International Monetary Fund (IMF) said, since 1975, no defaulting sovereign debtor had an investment grade rating in the year before defaulting.A borrower's cost of funding is
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