The failure of credit ratings

On November 5, the MD of Coface will address the Club des Vigilants to explain how rating agencies fueled the crisis and how to “right the ship.”

Credit rating agencies, the traditional compasses of the markets, have been singled out as one of those responsible for the financial crisis.

On November 5, Le Club des Vigilants will host Jérôme Cazes, member of the Natixis executive committee and MD of Coface, who will speak on the topic “Rating: how to restore confidence.”

He will explain how credit ratings, which are intended to protect investors from excessive risk, have, on the contrary, “contributed to its spread.”

Founded in 1999, the Club des Vigilants is a socio-economic organization chaired by Bernard Esambert. Its membership includes prominent figures such as writer Alexandre Jarin, journalist François de Closets, Dominique Desseigne (Chairman of Groupe Lucien Barrière), and Thierry Grimaux (Vice President at Atos Origin).