What’s a Credit Rating Agency Opinion Worth?
Guest post from Jonathan Rochford, CFA, Portfolio Manager Narrow Road Capital Pty Ltd
With the potential for a downgrade in the credit rating of Australia, and the recent downgrade of the United Kingdom there’s been a spike in interest in credit rating opinions. Whilst many speak of the desire for Australia to retain the coveted “AAA” rating few understand what actually goes into a credit rating. So what is a credit rating and is it worth anything anyway? Should investors pay attention to these opinions particularly after the poor performance of rating agencies in . . .
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