The first of two ‘phases’ of the solution put forward in this book are described here. This first part focuses on the role of the creditors in needing to formally support the plan and then the credit rating agencies. The role of the credit rating agencies is considered, but then the plan of action is advanced which consists of a specific rating approach to countries connected to the multilateral initiatives. In addition, an advisory service is advanced which can aid the fulfilment of key objectives in the relationship between sovereign states and the credit rating agencies.