Poole, the founder of American Standard and Pax, was founded in 1860 in response to the desire of European investors to know more about their newly developed infrastructure assets in the United States.
Moody's was founded in 1909, which pioneered the credit rating of railway bond information. 19 13 credit rating of public utilities and industry bonds.
Fitch Ratings was established in 19 13, which is smaller than that of Standard & Poor's and Moody's, but Fitch Ratings is much more sensitive to global markets, especially emerging markets.
The three rating agencies have their own emphasis, with Standard & Poor's focusing on corporate rating, Moody's focusing on institutional financing and Fitch focusing on financial institution rating.
Credit rating agencies have a very important influence in the financial market, but in fact, these rating agencies are not so reliable in evaluating credit ratings. On the one hand, credit rating companies should collect considerable fees from listed companies that require their ratings, on the other hand, they should provide information consulting services about listed companies to investors. Driven by interests, it is inevitable for credit rating companies to improve the credit rating of listed companies and provide false information to investors in exchange for residence fees.