Rating agencies in the firing line

Rating agencies

While buy and sell side alike are hoping for a return to relative normality as we head into September, the rating agencies' problems could be only just beginning. Some market participants are repeating familiar criticisms about their commercial relationships with issuers, while - perhaps more worryingly for the agencies - investigations into their conduct by regulatory bodies are being mooted.

Investors bear ultimate responsibility for their decisions, but ratings form an essential part of th

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