but bashing someone for doing what they were paid to do and doing it right, does not make sense.
I'm sorry if you own Sony stock.
Ok, my last comments.
I dont own Sony Stock, I think I made that perfectly obvious in my previous post, so your attempt at trivialising is un appreciated.
My comments have been centred around Moodys, but they are relevant in my opinion to S&P and Fitch as well, these are largely unregulated companies that are allowed to produce "Ratings" based on an "issuer pays" model, i.e.. If you want a good rating, or in fact if you want a bad rating (there are reasons companies want a less than stellar rating), you pay these companies for that rating and they produce it.
My point has been be careful of ratings agencies and their ratings, these guys aren't exactly on the ball or trustworthy, and the following comment I feel gives some credence to my point.
In February 2013, the U.S. government filed a civil suit against S&P in a California court, seeking damages of $5 billion for the agency's alleged role in misleading investors during the run-up to the financial crisis. If S&P is found guilty and forced to pay such a penalty, it could spell the end for the embattled ratings agency, and produce a flow on that could affect Moodys & Fitch.
Others may argue that any rating from anyone is better than no rating at all, I disagree, you say you read Sony's financial reports ?? I haven't, but I do track news, and what I read tells me 4 of 5 divisions within Sony are making Money, unfortunately for Sony that one Division in the Red is dragging the rest of the P&L down, hence my position that I currently wouldn't hold Sony Stock, but I'de like to make you feel better about all this Mt Spokane, although I don't own Sony stock, I do own Apple stock, it's down 8% as of last night, feel good about that.