The major credit rating agencies (CRAs)?Moody's, Standard & Poor's (S&P), and Fitch?continue to attract considerable media and public-policy attention; most recently S&P was the target of a lawsuit by the US government. This essay will provide an overview and assessment of the CRAs: what they...

Despite extensive criticism, the major credit rating agencies (CRAs) – Moody's, Standard & Poor's, and Fitch – remain as central entities in the financial markets of the U.S. and Europe, especially with respect to bonds and similar financial instruments. This chapter provides a discussion of...

Credit rating agencies (CRAs) play a central role in the debt (bond) markets of many countries. CRAs have also attracted a considerable amount of public and policy attention during the past decade, especially with respect to their role in the financial crisis of 2008–2009 and their role in the...