Jules Kroll leaned over the table and slapped down two documents, side by side. “This one is our report on the deal,” he says, pointing to the much thicker of the two. “This little doily underneath is the DBRS report.”
He slams down another two reports, one more than three times the size of the other. “This one is our credit rating,” he says, tapping the thicker one. “This other one is Standard & Poor’s report on the same deal. I can’t believe they are putting out crap like this. People are entitled to know what all these deals are about.”
Fighting talk from the founder of Kroll Bond Ratings, for sure, but it is a sign of the times. The rating agencies are at war.
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