INCRA
INCRA ( International Non-Profit Credit Rating Agency ) is a located at the design stage rating agency . It is based on the concept of an international network of offices in Europe, the USA, Latin America and Asia. The foundation has been working on this project since December 2011.
The not-for-profit rating agency INCRA is to be financed by a fund with a volume of 400 million dollars (306 million euros), from whose distributions the running costs are borne. Governments, companies, foundations and private individuals can all participate. The countries Germany, France, Italy, Japan and Brazil were evaluated in the pilot test. The ARD-Mittagsmagazin reported on November 20, 2012 that the Bertelsmann Foundation now wants the G20 states to discuss the INCRA model and that the outcome is still open.
background
So far, the three largest commercial rating agencies Standard & Poor’s , Moody’s and Fitch have dominated the world market with 95 percent. Critics accuse them of "having made a significant contribution to the recent financial crisis through questionable assessments of the creditworthiness of countries ." The INCRA is to be set up as an independent counterweight to economic and political stability. The experts have developed a model with various indicators for their country analysis. Classic macroeconomic factors such as gross domestic product and debt level are taken into account. But forward-looking indicators such as crisis management, implementation of reforms and investments also played an important role.
The agency should limit itself exclusively to country ratings and grades from international organizations.
Web links
- Blueprint for INCRA
- Sabine Kinkartz / ai: Economy - Alternative ratings agency to challenge big three. Article on dw.de from November 21, 2012 (English)
- Bertelsmann Foundation: INCRA Country Ratings Report (1.74 MB, English; PDF)
Individual evidence
- ↑ Bertelsmann Stiftung presents concept for a non-profit rating agency. Bertelsmann Foundation, April 17, 2012
- ↑ a b Bertelsmann Foundation presents concept for rating agency. Zeit Online, April 17, 2012
- ↑ http://www.reuters.com/article/2012/11/20/rating-agency-idUSL5E8MKEN820121120
- ^ ARD-Mittagsmagazin from November 20, 2012 Article online ( Memento from November 27, 2012 in the Internet Archive ), accessed on November 20, 2012
- ^ Rudolf Hickel: Smash the banks. S. 100. Econ Verlag, Berlin 2012. ISBN 978-3-430-20141-4
- ↑ AFP: Financial market: Bertelsmann Stiftung presents model for rating agency. In: Zeit Online. November 20, 2012, accessed December 13, 2012 .