Credit Agencies: The arrogance of failure

First of all, the failure of the rating agencies before the subprime crisis is complete and total. That’s an undeniable fact and the huge effort that those agencies are making to restore their credibility will not, in any way, change that fact. And you should not listen to anyone who is telling you otherwise even if that person is Patrick Raleig.

Response from Standard & Poor’s to an article criticizing our methods

I am writing to set the record straight about an article you recently published about Standard & Poor’s sovereign ratings methodology, and particularly its application to Tunisia, entitled “Standard & Poor’s cuts Tunisia’s rating: limited methodology or bad intentions?”. The article contains numerous factual errors and repeats false allegations against us, several of which I list below.