The French Senate has asked the 352 professional investors (known under the name Zinzins, some of whom are insurers) to rate the three main rating agencies (Standard & Poor’s, Moody’s and Fitch). The rating obtained was limited to 2.9 over a scale from 1 to 5. This poor result can only be evidence of the investors’ mistrust towards rating agencies. The management of conflicts of interest, inexistent sanctions against rating agencies and their rating mode are the main grievances mentioned by the investors. This mistrust is amplified by the recurrent scandals in which rating agencies were involved (the 2008 sub-prime scandal, Lehman Brothers, AIG, Enron etc.)
A report will be submitted to the president of the republic and to the European Commission.