Instructions – PLEASE READ THEM CAREFULLY

· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.

· Assignments submitted through email will not be accepted.

· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.

· Students must mention question number clearly in their answer.

· Late submission will NOT be accepted.

· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.

· All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).

· Submissions without this cover page will NOT be accepted.

Assignment Question(s): (Marks: 5)

Over few years, there has been mounting criticism of the role and performance of rating agencies. The main recent criticisms concern their rating of complex securitisations and the role this played in the 2007-2009 financial crisis.

Critically examine the role of rating agencies in 2007-2009 financial crisis, examine problems associated with their functioning and comments on future scope you see for these agencies.

You answer should be in approximately 1000 words.

Answer: