FKI Suspects International Credit Agency"s Ratings

The Federation of Korean Industries (FKI) pointed out that the International Credit Rating Agency's ratings are problematic due to the limitations of its executives and its improper analysis on changes in the international finance market.
FKI said in a report released on September 21 that the ratings of Moody's and Standard & Poors have been untimely.
The report indicated that the two credit rating agency's ratings have been mostly accurate regarding analysis about the U.S., but in the case of other countries, due to the insufficient experience and limited knowledge of its executives on particular countries, it is inevitable for the agency to have a shortage of information.
As examples, the report enumerated the cases of the Yamaichi Securities Co's bankruptcy, and the credit ratings of Thailand and Korea.