Credit Ratings Turned Upside Down

In a recent reform the usual way of expressing credit ratings by assigning AAA as the top rating, AA+ as the next best and so on has been changed.

If we look at sovereign credit ratings being those ratings assigned to countries, the world picture looks somewhat different than before.

The new top rating is LMAO followed by LOL+ and so on. As of 1st April 2012 only three countries have the top rating. These countries are Zimbabwe, Greece and Wales.

The improved Zimbabwean rating is due to a simplification (Keep It Simple, Stupid) in the way of handling currencies. Now the Zimbabwean dollar equals the US dollar. Much easier, indeed.

Until now Greece has been a bit of a scapegoat for the Eurozone problems. With a new way of measuring things that has certainly changed. Already tomorrow German chancellor Merkel must go to Athens and present a plan telling how to pay back the balance.

Wales have until now been rated as part of the United Kingdom. But as a credit bureau spokesman says: “If you have a national soccer team and a national rugby team you should definitely also have your own sovereign credit rating”. As a main reason for the Welsh economic strength most analysts point to the new Welsh shadow currency called Nidwyfynrhoicachufelltithamarianfijystyneudefnyddiowrthfiwedieu – or just short Nidwyfynrhoicachufelltithamarianbasta.

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