MADRID| By Luis Martí | Lower ratings undermine market confidence, and weak market conditions are displayed as a major cause of your own lack of confidence. Looping the loop. No wonder investors rely less and less on ratings agencies.
The time has come for rating agencies
The text provides for “civil liability in the event of intent or grave negligence.” In a bid to prevent conflicts of interest, it also forbids investors from owning more than 5% of the capital of two different agencies.
A British knight for the rating agencies
LONDON | The Investment Management Association sent Friday an unequivocal message to the European Commission: do mess with the risk rating agencies at your peril. In its written submission to the Treasury Select Committee Inquiry into credit rating agencies, the trade body for the UK’s £4 trillion asset management industry IMA defended the independent role of [...]
Barclays: “S&P will not cut any sovereign rate in a one or two-year period”
By Julia Pastor, in Madrid | After some weeks of good tone in the European stock markets, they suffered the consequences on Monday of the massive rating cut by S&P last weekend. The Ibex35 woke up today with shares drowning in red, except for Ebro Foods and Gas Natural, and is being dominated by volatility for [...]
Agencies trust Botín more than Spain
From Spain's best-seller newspaper El País | The rating agencies consider Banco Santander's solvency stronger than that of the Spanish state. Until now, the ratings given by credit agencies were slightly higher for the debt issued by the Kingdom of Spain than for the bonds issued by the bank that Emilio Botín presides. But the [...]
