Critics complain the agencies have lost their ability to independently judge the risk on certain investments -- especially in light of AAA ratings given to mortgage-backed securities that imploded when defaults on U.S. home loans shot up , triggering the 2008 financial crisis . `` Big Three '' are Standard & Poor 's , Moody 's Investor Services and Fitch Ratings . Critics say the agencies have lost their ability to independently judge risk on certain investments . Comment: 15 of the world 's biggest banks downgraded due to exposure to global financial crisis .
`` Big Three '' are Standard & Poor 's , Moody 's Investor Services and Fitch Ratings . Critics say the agencies have lost their ability to independently judge risk on certain investments . Comment: 15 of the world 's biggest banks downgraded due to exposure to global financial crisis .