ABSTRACT
Given the suspicion that sovereign credit ratings are met with and the bulk of criticism CRAs are exposed to, the common sentiment is that ratings should not be left to the subjective appreciation of agencies, through their credit rating committees, as knowledgeable as these committees might be. The tests performed in this book have unearthed much inconsistencies and approximations in the rating process, susceptible of jeopardizing its credibility and questioning its fairness. It seems currently that a sovereign country could find itself battling with the hell of the speculative status, due only to vagueness in the process of credit rating assessment. Gains of accuracy are still needed and possible in sovereign credit activity, and CRAs oversight should include improvement and standardisation of procedures and methodologies.
