Iceland is a good example of the fallibility of the rating agencies. During Iceland’s financial crisis, no one – and least of all the rating agencies – seemed to wonder why three banks from a tiny island with no history of banking could out-earn foreign banks despite borrowing at a relatively high cost.
Tag Archives: ratings agencies
Alex Hern reports on the news the credit rating agencies would be unlikely to give an independent Scotland a triple-A rating.
Alex Hern reports on the calls from the Party of European Socialists to regulate the credit ratings agencies, and considers what the problems with such regulation may be.