Credit ratings agencies have been questioned by the United Nations Conference on Trade and Development (UNCTAD), who says they favor countries with a certain ideological bent.
Credit rating agencies (CRA) such as Moody’s, Fitch or Standard & Poor’s will have to work under more strict regulations in the European Union where they could face claims if investors suffer a loss due to an infringement committed by the agency intentionally or with gross negligence, according to a European Council directive approved on Monday.