Tag: Standard & Poor’s
In late December 2015, the US Securities and Exchange Commission (SEC) announced the publication of its «Annual Report on Nationally Recognized Statistical Rating Organizations». The commission produces such reports every year, as required by the 2006 Credit Rating Agency Reform Act. In the industry these documents are simply known as rating agency reports. The SEC provides details on ten nationally recognized statistical rating organizations in the US, including the three market leaders – Standard & Poor’s Ratings Services, Moody’s Investors Service, and Fitch Ratings…
At the beginning of 2015 economic ratings given to Russia’s economy appeared in the West to cover the previous year, offer the forecasts for the current year and even for the period of 2016-2017… On January 13 Fitch rating agency downgraded the ratings of 13 Russian companies, including Gasprom, Lukoil and Russian Railroad Company. At the same time it was reported that Standard & Poor’s, another world rating agency, could soon downgrade the Russia’s sovereign rating to “junk” status. Moody’s, one more agency of the Big Three group, is also expected to join in the virtual game of Russia’s downgrading… The ratings cannot be taken at their face value because they have nothing to do at all with the real state of Russian economy. The «Big Three» ratings are a weapon of economic war unleashed against Russia in March 2014. It’s an instrument of psychological pressure. They are planned as self-fulfilling forecasts… My assessments of the world rating agencies’ products are easy to understand. I believe they are nothing else but the results of manipulations, cheatings, falsifications, racket, the instruments of sanctions, the activities of world cartel, conspiracies and subversive activities…
The rating agencies which are a predominantly US business spare no efforts to undermine the credibility of the European markets… The key US principle – What is good for big money, is good for the nation – actually implies that the money must be US dollars…
The default, which did not happen in the US on August 2, and the following drastic declines on global stock markets (after the raise of the US debt ceiling and the decrease of US credit rating from AAA down to АА+) have made us listen to those experts who had been talking not only about the coming new wave of crisis, but also about the consequences of the neo-liberal economic model, which became the main source of the emerging economic and political problems… The crisis has made it clear that no economy exists apart from politics and vise versa. This is valid on global scale…