illover into EMD. Indeed, a recent stress test by Standard & Poor’s revealed that EM corporate borrowers— who must re

been under-appreciated. In a May 2012 report from Standard & Poor’s, the authors note that they had initially rated 7

irtues of frugality and non-consumption. If an entrepreneur wants to evaluate the country risk before investing anywhere, he looks at the Moody’s or Standard & Poor’s ratings. According to these risk rating companies, Cuba appears on the most dangerous fringe. There is a very long history of arrests or simply nonco

hose things we produce better than they do in exchange for those things they produce better than we do.” In the interview the veteran economist said Standard & Poor’s was quite right in downgrading the U.S. credit rating — in fact it should have done so far earlier. The agency had no choice and if the other agenci

rks of Standard & Poor’s Financial Services LLC (“Standard & Poor’s”) and are licensed for use by The Goldman Sachs G