IOSCO

2:00AM
Printer-friendly version
Credit rating agencies came away from the global financial crisis with damaged reputations but they have since taken a step forward in redeeming themselves by showing their independence against their government regulators. To wit, Standard & Poor’s recently placed a negative outlook on the U.S. government and Moody’s warned that the U.S. will need to reverse the expansion of its debt if it hopes to keep its current rating.