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Moody Blues the fickle world of ratings 1/3 3/3 × Rating agencies have got things horribly wrong in the past. But they still carry a lot of heft in the global economy Although hundreds of rating companies deal with economic and financial matters, three major companies, known as ‘Big Three’, hold 95 per cent collective global market share Standard & Poor’s (S&P) and Moody’s having approximately 40 per cent each, and Fitch Group around 15 per cent. Thanks to Covid’s deadly second wave, Moody’s has now cut India’s GDP forecast for FY22 to 9.3 per cent from the earlier projection of 13.7 per cent, and has ruled out a sovereign rating upgrade at least for now. Incidentally, in June 2020, citing structural weaknesses, weak policy effectiveness, and slow reforms momentum even before the pandemic, Moody’s cut long-term sovereign rating for India from ‘Baa2’ to ‘Baa3’, which is just one notch above ‘junk’ status.

West bengalUnited statesMatt taibbiNicolas sarkozyLehman brothersEuropean unionIndian statistical instituteFitch groupBig threeBig shortWall streetPresident nicolas sarkozyEuropean sovereign debt crisisமேற்கு பெங்கல்ஒன்றுபட்டது மாநிலங்களில்லெஹ்மன் சகோதரர்கள்