It means that you should not bother to pay any attention to the rating agencies. Everything they have done in the past 15 or 20 years has been wrong. I stopped bothering about them long ago.
Everybody knows that France is no longer Triple-A, everybody knows that Italy is no longer as highly-rated as it used to be. The market knows all about this. This is not news. I know you have to report something, but this is not news to people in the market. - in RT.com
Related, Moody`s Corporation (MCO)
Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.