Oligopoly of rating agencies must be dismantled: CEA V Anantha Nageswaran

In a conversation with businessline’s Editor Raghuvir Srinivasan, Chief Economic Advisor V Anantha Nageswaran, said that the oligopoly of the three global rating agencies Moody’s, Standard & Poor, and Fitch“ needs to be dismantled. He asked why there were only three global rating agencies when the West is talking about market economy and competition. He said there were many problems with the methodology of the rating agencies such as qualitative parameters and the sources of information.