Rating agencies have herd mentality:
Rating agencies tend to have a herd mentality when it comes to a pessimistic outlook on a country which explains why Standard and Poor's and Fitch have downgraded their outlook for the Indian economy, Chief Economic Advisor to the Ministry of Finance Kaushik Basu said today.
Specialist property ratings house PIR has told the Australian Securities and Investments Commission that the role of investment ratings is often significantly misunderstood by both investors and advisers.