Cihan Haber Ajansı, Rusya ile Türkiye arasında ... - Today's Zaman

88 SEPTEMBER-OCTOBER 2011Economy editors gave bad mark to thecredit rating entities: They are likeelephants in the glassware storeThe credit rating entities play an importantrole in the determinationof the countries in the eyes of theinvestors with the marks they give. However,each step taken by such entities thatare claimed with not foreseeing the globalcrisis is the subject of a criticism. Theeconomy editors are also reactive againstthe entities that have dropped the mark ofUSA while there were European countriesthat did not improve the report of Turkeyalthough the performance being exhibited.The ones directing the economy pagesassimilate these entities that are beingcriticized with acting “inconsistent” to the“elephants in the glassware store”.American centered credit rating entitiesStandard & Poor's, Moody's andFitch hold 95 percent of the market.These three entities are conducting ratingapproximately for 1 century. In additionto the general economic status,whether the states internalize democracyor not and the comfort of the investmentenvironment are also taken intoconsideration during the credit rating ofthe countries. As of the mark of the ratingentity is announced as negative, thebottoms of the stock markets of the statesstarted to be seen. Therefore, the ratingof the countries within the world economiesbecomes interrogable.However, at the current point, theseentities are also started to be interrogated.Since 1941, the long term creditmark of USA was kept at ‘AAA’, whichis the highest investment level, howeverafter the Standard & Poors has droppedits mark by one level, a financial stormhas started and so the attraction is takenon these entities. Cihan Magazine hasspoken about the current point of thesecredit rating entities and the prestigeloss they are exposed to with the economyeditors of the newspapers.