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Are Ratings overrated?

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Globally, bond ratings have been known to drive liquidity while helping investors take an informed investment decision. These credit ratings have played a significant role in the decision making process of purchasers of debt securities while also playing a role in the development of markets. The International Organisation of Securities Commissions’ (IOSCO) report on Corporate Bond Markets in Emerging Markets identifies Government policy and the existence of international credit rating services as underpinning factors in the general development of bond markets in EMEs, particularly following bank-based crises.[1]
In spite of the unanimous verdict on the role played by credit rating agencies (CRA) in the 2007 financial crisis, a role which many attribute to the conflict of interests by CRAs arising from playing a dual role of advisory and rating, as well as a lack of competition, the opinion of CRAs regarding the ability of an issuer to repay a debt obligation remains a major feature of …

Dear Nigerians, Please let your agitations be properly guided!

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“Nigeria has taken too long to get to this point and any further delay will be detrimental to the economy, healthy living of Nigerians, the economy and the total environment. We urge the president to do the needful and immediately assent to this draft law.”
- The Centre for Social Change and Citizenship Education

I stumbled on a media report titled “Group urges Buhari to sign Federal Competition and Consumer Protection Bill.” The Group is of the opinion that when the Bill is signed into law, it “would boost human rights, and the anti- corruption fight of the Federal Government, as well as help the economy” comments are reserved on the first two points.
Upon conclusion of the harmonization of the different versions of the Competition Bill by the Nigerian Parliament, a copy of the Bill was forwarded to the President for assent in December 2017. The Group wants President Buhari to assent to the Bill without further delay, but would assenting to the Bill as submitted to the President tru…