Prof. Hill Quoted in Die Zeit on Rating Agency Downgrades

Professor Claire Hill was quoted in the German newspaper Die Zeit on the recent rating agency downgrades of sovereign debt in Portugal. Hill opined that asking rating agencies to take into account the negative effects of a downgrade was, in effect, asking them to compromise the independence and accuracy of their ratings. She also noted that there is never a "good time" to deliver bad news, such as a ratings downgrade.