The S&P sent out a rating alert for the UK and now all bells are ringing. The UK credit derivatives widened sharply and the pound was hit.
The UK is going from stable to negative for the first time since 1978 and I can assure you: we don’s see any happy faces.
Fitch and Moody’s were already out to affirm the UK’s triple A rating, but the damage is done.
The action of the Big Three is one thing, doing some good analysis is another. There are many rating agencies out there, but only these three are recognised by the FED. And the rest of the world. But they are commercial firms and I can assure you: the limited number of people working on such serious topics is just
a sickening joke.
The UK is going from stable to negative for the first time since 1978 and I can assure you: we don’s see any happy faces.
Fitch and Moody’s were already out to affirm the UK’s triple A rating, but the damage is done.
The action of the Big Three is one thing, doing some good analysis is another. There are many rating agencies out there, but only these three are recognised by the FED. And the rest of the world. But they are commercial firms and I can assure you: the limited number of people working on such serious topics is just
a sickening joke.
I like more agencies as Egan-Jones. At least they do some homework. If you go to www.egan-jones.com you’ll find some fine stuff.
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