I can’t help but comment on the news today that FitchRatings has downgraded the rating of corporate financier Hanover Finance Limited to a "D" rating. So what’s wrong with that you ask?
Bear in mind that it’s a full five days since Hanover suspended repayments of existing deposits.
Am I misinformed or are credit rating services actually meant to give us relevant rating information before situations deteriorate for these companies? Aren’t they in existence purely for the reason of informing the investing public and institutions?
I wonder how much investors pay to obtain Fitch’s "subscriber only" analyses – my advice – you’re just throwing good money after bad.
Ben Kepes is an analyst, an entrepreneur, a commentator and a business adviser. His business interests include a diverse range of industries from manufacturing to property to technology. As a technology commentator he has a broad presence both in the traditional media and extensively online. Ben covers the convergance of technology, mobile, ubiquity and agility, all enabled by the Cloud. His areas of interest extend to enterprise software, software integration, financial/accounting software, platforms and infrastructure as well as articulating technology simply for everyday users. 
It’s just another racket.
Its a scam.