Copying and distributing are prohibited without the permission of the publisher. If you wish to distribute this content please contact Christopher Hunt (email@example.com) for a quote.
Subscribe today: Order Euromoney by contacting us on +44 (0)20 7779 8999 (UK) or +1 212 224 3570.
Moody’s attempt to improve the transparency and predictability of its credit ratings should be welcomed. But is it high time the agency dropped the pretence of default-signalling when, like its rivals, the ratings have sometimes been more about measuring loss risk than an accurate gauge of credit default?