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Multinational Ratings Agency Launches as Alternative to Big Three

Credit ratings organizations from five countries are launching a new global agency, touting it as an alternative to the Big Three agencies which they say no longer meet the needs of the new globalized world. In a statement on Tuesday, ARC Ratings said it would officially launch on Nov. 20 in London as a joint venture between CPR of Portugal, CARE Rating of India, GCR of South Africa, MARC of Malaysia, and Brazil's SR Rating. The credit ratings business is dominated by...

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