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Archive Stories
Archived stories from Dec 2019

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Rating agency downgrades itself

The rating agency AB Waite & Sea has announced that is downgrading itself due to concerns over its solvency. ?We've looked at the figures and it doesn't look good,? said senior analyst Bob Notches. ?We're up the creek without a paddle. In fact, without a boat.?

The agency said it was downgrading its own rating from AAAA++++++(really very very good) to ZZZ-(don't touch with a bargepole) with immediate effect. ?Whatever you do, don?t do business with us,? said AB Waite & Sea in a press release. ?Unless you are really, really desperate.?

Mr Notches said that the problems at the troubled agency stemmed from being rubbish. ?We're just no good at this rating stuff. It's hard,? he said. ?We read the insurance press every day so up to now we've kept on top of things, but now we can't afford the subscriptions, I don't know where we'll get our info. No-one tells us anything.?

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