Source: www.breakingviews.com is Europe’s leading financial commentary service.
Date: May 2003
The credit research industry ought to be prospering. More European companies have been issuing bonds since the launch of the euro in 1999, and lots of these issuers are now being downgraded by the credit rating agencies. All this points to a pressing need for more insightful analysis. But the industry does not look able to meet this need.
The downturn in credit quality is among the sharpest on record.
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