An assessment of strategic importance of credit rating agencies for companies and organizations

Recently CRAs have been affecting many new dynamics such as politics, governments and municipalities. We think that companies are also involved in this affecting process. In this study, the topic has been investigated from this strategic perspective. First, major CRAs have been presented along with their credit rating systems and grades. Later the roles of downgrades of CRAs has been discussed on Euro zone and US crises. Following this, we have disclosed negative and positive assessments by critics and defenders on CRAs and their ratings. For this reason, all the companies in the world mustn't be overlooked the CRAs and their grades and take them into consideration strategically and finally involve them into their stakeholders and partners. Finally we have come up with an assessment of strategic importance of CRAs and their rating for companies and organizations.