SORU: aşağıdaki parçaya göre cevaplayınız
It is stated in the passage that ----.
A credit rating agency measures credit worthiness of
institutions from companies to governments and
assesses their ability to pay back a loan. The top three
credit rating agencies are Standard and Poor’s (S&P),
Fitch Ratings and Moody’s. Each rating agency has
developed its own rating system. Fitch Ratings
developed its system in 1924, which was later adopted
by S&P. Both use a system of letter sliding from the best
rating ‘AAA’ to the lowest ‘D’ for borrowers already
defaulting on payments. In detail, ‘AAA’ represents the
best quality borrowers that are reliable and stable
without any foreseeable risk to future payments, while
‘D’ means the institution has defaulted on payment
obligations, having failed to pay back the loans – S&P
and Fitch Ratings assert it will keep on doing so.
Moody’s follows a different rating system. It argues that
their ratings have a superior approach that considers
not only the likelihood of default, but also the severity of
the default. In addition, S&P and Fitch Ratings are only
interested in how likely a borrower is to default, whereas
Moody’s cares how long the default is likely to last. Most
importantly, S&P does not care what the recovery value
will be – the amount of money that the lender will end up
with after the borrower has defaulted. Moody’s, by
contrast, tries to figure out the expected losses, which
makes it more preferable.