Aussie credit rating agencies sink into credit stress


LOL, at Banking Day.

A string of companies that monitor, grade and rank the creditworthiness of millions of Australian borrowers are themselves scrambling to keep their businesses ticking over.

The Australian operations of consumer credit ratings providers – Experian, Illion and Equifax – have each been reporting large operating losses in recent years despite booming demand for credit-related data and borrower assessments from financial institutions.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.