There Must Be an Angel (Playing with The Chart, Yeah)
Everything is heavenly, as credit rating agencies screech into a U-turn.
by Murray Gunn
Updated: August 12, 2021
"Who would want to be a credit rating analyst? It seems that credit rating agencies can't do right for wrong and are always being criticized for either being late or early. Before and during the so-called Great Financial Crisis of 2008, rating agencies such as Moody's, S&P and Fitch, stuck with their rose-tinted view on the outlook for corporate and mortgage debt despite flashing red signals of a debt bubble, only downgrading swathes of bond issuers after it burst."
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