I’m not interested in excuses. I’m not saying you can’t concoct a plausible reason for them to do it. I’m interested in the underlying realities.
The underlying truth is that the credit ratings agencies are throwing their weight around a lot these days, and the power they wield is dangerous and disproportionate.
Okay, with your vast experience in this area based upon a feeling, you must be right and I must be wrong. Silly me, I thought I understood the business I have been responsible for for all these years.