The Critical Review Towards the Article of Professor Miglionico on the Disclosure Regime of Credit Rating Agencies

Abstract

Generally, those Credit Rating Agencies are regarded as commercial institutions that provide professional suggestions on the possibility of the issuer repaying its debts in full and on time. For investors, it could be utilized to ensure the transparency of credit quality and quarterly disclose relevant information, in order to provide assistance to investors to familiarize themselves with relevant financial markets. Although credit rating is not a guarantee or absolute indicator, it is, to a large extent, an essential tool in the process of critical decision-making. It is commendable that the author Miglionico has effectively analysed the role and limitations of CRA system which makes it deserves to be studied.