Credit Agencies And Objectivity (Or The Lack Thereof)

... ratings organisations from five countries (CPR of Portugal, CARE Rating of India, GCR of South Africa, MARC of Malaysia, and SR Rating of Brazil) merged to launch ARC Ratings, a new global agency that was supposed to become an alternative. Naturally the BRICS nations have also brought up the question of creating a joint venture that will serve as an alternative source of credit ratings. The head of VTB, one of Russia’s leading banks, Andrey Kostin spoke to the Russia News Agency TASS about the ...