CREDIT RATING AGENCIES ABROAD

(i) Standard and Poor’s (S & P) Ratings 

S&P Global Ratings have been in the credit rating business for more than 150 years. They are the world’s leading provider of credit ratings. Their credit ratings are important not only for the corporates but also for the government and the financial sector. Their credit rating is basically an expression of opinion about the credit quality of a company i.e. whether that company is able to meet its financial obligations in time or not. S & P is operating in about 28 countries. And, to its credit, if we take all corporate sector investment-grade ratings issued, just 1% has defaulted over the most recent five-year period. 

(ii) Fitch Ratings 

Fitch is among the top three credit rating agencies in the world. Fitch Ratings is headquartered in both New York and London. Fitch Ratings' long-term credit ratings are assigned on an alphabetic scale from 'AAA' to 'D'. It was first introduced in 1924 and later adopted and licensed by S&P. It is a global leader in financial information services with operations in more than 30 countries. 

(iii) Moody’s Ratings 

Moody’s is an important contributor in the global financial market providing credit rating services that helps in the building up of a transparent and integrated financial market. The Corporation, which reported revenue of $3.6 billion in 2016, employs approximately 10,700 people worldwide and maintains a presence in 36 countries.