ABSTRACT
‘The Big 3: the global credit market gatekeepers’, clarifies how the three largest credit rating agencies (Fitch, Moody’s and Standard & Poor’s) have imposed credit rating as an extremely lucrative global industry, and act as global credit market gatekeepers. Using the Herfindahl-Hirschman (HHI) methodology, the chapter tests whether such unshared control over the global rating market is actually is on the rise, despite recent regulations aiming to curb it.
