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What is function of credit rating agency?
Credit Rating Agencies rate the credit-worthiness of securities instruments. The reason for doing so is for investors to gain confidence that what they are buying is what they think it is. The big players in the industry (pension/insurance funds) have mandates which prevents them from investing in securities below a certain rating. You could say that they act as a means of protecting society from excessive speculation using 'social' funds (pension/insurance) by fund managers who are out to speculate short term by taking excessive risk. Duncan of Canary Wharf
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There is no such entity as a credit rating agency. Credit reporting agencies, as defined by the Fair Credit Reporting Act, as paid by their participants,(merchants, lenders a…nd other credit grantors), who pay fees to both report to, and pull credit from, the CRA's. By law, CRA's can also currently charge a nominal fee to consumers for copies of their credit file. The FCRA was amended last year to allow consumers one free credit report per year. But, the bureaus received relief from this provision. Free credit reports will be "rolled out" by sections starting with the western US as of Dec 1, 2004. www.annualcreditreport.com March 1, 2005 for the Midwest US June 1, 2005 for the Southern US September 1, 2005 for the Eastern US and Territorities
Answer Yes, because by doing that you are converting a Negative on your credit history to a Positive action. Those who look at a credit report are looking to see if you… are making efforts to "turn things around." Answer Paying a collection does NOT improve your credit and may, under certain circumstances, cause even more deductions to your credit score. This is one of the fallacies about credit. The factor that causes the largest amount of deductions to scores is when a derogatory account was last reported to the bureaus, not the amount owed or the status (paid or unpaid). A paid collection account can be just as damaging as an unpaid collection. Answer The first answer was incorrect. The only thing that will improve your credit rating is to have the collection removed from your credit report. Offer to pay the collection in exchange for a deletion.
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A credit rating agency (CRA) is a company that assigns http://www.answers.com/topic/credit-rating for http://www.answers.com/topic/issuer-2 of certain types of http://ww…w.answers.com/topic/debt obligations as well as the debt instruments themselves. In some cases, the servicers of the underlying http://www.answers.com/topic/debt are also given ratings. In most cases, the issuers of http://www.answers.com/topic/security-finance are companies, http://www.answers.com/topic/special-purpose-entity, state and local governments, http://www.answers.com/topic/nonprofit, or national governments issuing debt-like securities (i.e., http://www.answers.com/topic/bond-wordnet) that can be traded on a http://www.answers.com/topic/secondary-market. A credit rating for an issuer takes into consideration the issuer's http://www.answers.com/topic/credit-risk (i.e., its ability to pay back a http://www.answers.com/topic/loan), and affects the http://www.answers.com/topic/interest-rate-1 applied to the particular security being issued. (In contrast to CRAs, a company that issues http://www.answers.com/topic/credit-score-1 for individual credit-worthiness is generally called a http://www.answers.com/topic/credit-bureau or http://www.answers.com/topic/credit-bureau.)
A credit rating agency assigns credit ratings to certain types of debt obligations and debt instruments.
Security and Exchange Board of India is regulating credit rating agency in INDIA
according to SEBI(INDIA) credit rating agency cannot rate fixed deposits, real estates, etc.
Credit reporting agencies keep files of information on all consumers who have made credit transactions at some point in their lives. Credit granting institutions may purchase …these files
Though each bank may have an internal rating system for large organizations and sovereign parties (Countries), the 3 most important or widely accepted rating agencies are: .… 1. Standard & Poors 2. Moody's 3. Fitch. A point to note is that the above agencies are not in any order of importance and the ratings by each agency is considered with equal importance. If two or more agencies provide a rating for a party, then it is widely accepted as the credit worthiness of the party
there are 7 credit rating agencies in INDIA
The Credit Rating Agency is a hub that gathers data from creditors and puts the data together into a single individual consumer credit report. Lenders use there reports in ord…er to determine a borrower's credit worthiness.
Onida individual credit rating agency
Experian, Equifax, TransUnion
Which among these is a credit rating ?
The key purpose of credit rating agencies is to assign a rating to businesses and entities that issue certain types of debt. These rating help to determine the credit worthine…ss of these establishments.
DBRS is a credit rating agency with locations in Calgary. DBRS specializes in the gas and oil industry. Various other credit rating agencies exist in Canada and in the Unite…d States.