Thursday 25 May 2017

Seamus Coffey: Downgrades another bump on a long road that seems to have no turning

THE resolution of the eurozone crisis hit another bump on the road with the raft of soverign debt downgrades announced by ratings agency Standard & Poors last Friday. These downgrades were not a very well kept secret and really don’t tell us anything we don’t already know.

THE resolution of the eurozone crisis hit another bump on the road with the raft of soverign debt downgrades announced by ratings agency Standard & Poors last Friday. These downgrades were not a very well kept secret and really don’t tell us anything we don’t already know.

One of the purposes of ratings is to provide a snapshot guide to people who do not have the time to investigate the complete details behind a particular investment. This is useful for the myriad of funds and securities that are now in existence. No individual investor or fund manager would be in a position to analyse them all.

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