{"id":506,"date":"2026-05-24T08:32:39","date_gmt":"2026-05-24T08:32:39","guid":{"rendered":"https:\/\/bharatnamanews.com\/?p=506"},"modified":"2026-05-24T08:32:39","modified_gmt":"2026-05-24T08:32:39","slug":"western-rating-agencies-dark-reality","status":"publish","type":"post","link":"https:\/\/bharatnamanews.com\/en\/western-rating-agencies-dark-reality\/","title":{"rendered":"\u092a\u0936\u094d\u091a\u093f\u092e\u0940 \u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u094b\u0902 \u0915\u0940 \u0915\u093e\u0932\u0940 \u0938\u091a\u094d\u091a\u093e\u0908: \u0915\u094d\u092f\u093e \u0935\u093e\u0915\u0908 \u092f\u0947 \u0924\u092f \u0915\u0930\u0924\u0940 \u0939\u0948\u0902 \u0915\u093f \u0915\u094c\u0928 &#8216;\u092d\u0930\u094b\u0938\u0947\u092e\u0902\u0926&#8217; \u0939\u0948?"},"content":{"rendered":"<p>\u0915\u094d\u092f\u093e \u0906\u092a\u0928\u0947 \u0915\u092d\u0940 \u0938\u094b\u091a\u093e \u0939\u0948 \u0915\u093f 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\u0924\u094b \u0915\u094b\u0908 \u0926\u0947\u0936 \u0905\u0902\u0924\u0930\u0930\u093e\u0937\u094d\u091f\u094d\u0930\u0940\u092f \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u0938\u0938\u094d\u0924\u093e \u0915\u0930\u094d\u091c \u0932\u0947 \u0938\u0915\u0924\u093e \u0939\u0948, \u0928 \u0939\u0940 \u0915\u094b\u0908 \u092c\u0921\u093c\u0940 \u0915\u0902\u092a\u0928\u0940 \u0917\u094d\u0932\u094b\u092c\u0932 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u094b \u0932\u0941\u092d\u093e \u092a\u093e\u0924\u0940 \u0939\u0948\u0964<\/p>\n<p>\u092f\u0947 \u0924\u0940\u0928 \u0928\u093e\u092e \u0939\u0948\u0902 \u2014 Moody\u2019s, S&amp;P (Standard &amp; Poor\u2019s), \u0914\u0930 Fitch\u0964 \u0907\u0928\u094d\u0939\u0947\u0902 &#8216;\u092c\u093f\u0917 \u0925\u094d\u0930\u0940&#8217; \u0915\u0939\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u0947 \u0928\u094d\u092f\u0942\u092f\u0949\u0930\u094d\u0915 \u0914\u0930 \u0932\u0902\u0926\u0928 \u0915\u0947 \u0917\u0932\u093f\u092f\u093e\u0930\u094b\u0902 \u092e\u0947\u0902 \u092c\u0948\u0920\u0915\u0930 \u0924\u092f \u0915\u0930\u0924\u0940 \u0939\u0948\u0902 \u0915\u093f \u092d\u093e\u0930\u0924 \u0915\u093e \u0938\u0949\u0935\u0930\u0947\u0928 \u0930\u0947\u091f\u093f\u0902\u0917 &#8216;BBB-&#8216; \u0939\u0948 \u092f\u093e \u091a\u0940\u0928 \u0915\u093e &#8216;A+&#8217;\u0964 \u0932\u0947\u0915\u093f\u0928 \u0915\u094d\u092f\u093e \u0906\u092a\u0915\u094b \u0932\u0917\u0924\u093e \u0939\u0948 \u0915\u093f \u092f\u0947 \u0930\u0947\u091f\u093f\u0902\u0917 \u0935\u093e\u0915\u0908 \u0924\u091f\u0938\u094d\u0925, \u0928\u093f\u0937\u094d\u092a\u0915\u094d\u0937 \u0914\u0930 \u0935\u0948\u091c\u094d\u091e\u093e\u0928\u093f\u0915 \u0939\u0948\u0902? \u092f\u093e \u092b\u093f\u0930 \u0907\u0928\u0915\u0947 \u092a\u0940\u091b\u0947 \u090f\u0915 \u0917\u0939\u0930\u0940 &#8216;\u0921\u093e\u0930\u094d\u0915 \u0930\u093f\u092f\u0932\u093f\u091f\u0940&#8217; \u091b\u093f\u092a\u0940 \u0939\u0948, \u091c\u094b \u0935\u093f\u0915\u093e\u0938\u0936\u0940\u0932 \u0926\u0947\u0936\u094b\u0902 \u0915\u094b \u0917\u0941\u0932\u093e\u092e \u092c\u0928\u093e\u090f \u0930\u0916\u0928\u0947 \u0915\u093e \u090f\u0915 \u0906\u0927\u0941\u0928\u093f\u0915 \u0939\u0925\u093f\u092f\u093e\u0930 \u0939\u0948?<\/p>\n<p>\u091a\u0932\u093f\u090f, \u0906\u091c \u0907\u0938\u0940 \u0915\u093e\u0932\u0940 \u0938\u091a\u094d\u091a\u093e\u0908 \u0915\u094b \u0909\u091c\u093e\u0917\u0930 \u0915\u0930\u0924\u0947 \u0939\u0948\u0902\u0964<\/p>\n<p><strong>1. \u092a\u0942\u0930\u094d\u0935\u093e\u0917\u094d\u0930\u0939 \u0938\u0947 \u092d\u0930\u0940 \u0928\u091c\u0930\u0947\u0902: \u092a\u0936\u094d\u091a\u093f\u092e \u0905\u091a\u094d\u091b\u093e, \u092c\u093e\u0915\u0940 \u0938\u092c \u092c\u0941\u0930\u093e?<\/strong><br \/>\n\u092e\u093e\u0928 \u0932\u0940\u091c\u093f\u090f, \u0905\u092e\u0947\u0930\u093f\u0915\u093e \u092a\u0930 \u0915\u0930\u094d\u091c \u0909\u0938\u0915\u0940 \u091c\u0940\u0921\u0940\u092a\u0940 \u0915\u0947 120% \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u0939\u0948\u0964 \u0905\u092e\u0947\u0930\u093f\u0915\u0940 \u0938\u0930\u0915\u093e\u0930 \u092c\u093e\u0930-\u092c\u093e\u0930 \u0936\u091f\u0921\u093e\u0909\u0928 \u0939\u094b\u0924\u0940 \u0939\u0948, \u0909\u0938\u0915\u093e \u092c\u091c\u091f \u0916\u0924\u094d\u092e \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092b\u093f\u0930 \u092d\u0940, \u0909\u0938\u0947 AAA \u092f\u093e AA+ (\u092f\u093e\u0928\u0940 \u092c\u0947\u0939\u0926 \u0938\u0941\u0930\u0915\u094d\u0937\u093f\u0924) \u0930\u0947\u091f\u093f\u0902\u0917 \u092e\u093f\u0932\u0940 \u0939\u0941\u0908 \u0939\u0948\u0964 \u0915\u094d\u092f\u094b\u0902? \u0915\u094d\u092f\u094b\u0902\u0915\u093f &#8220;\u0921\u0949\u0932\u0930 \u0926\u0941\u0928\u093f\u092f\u093e \u0915\u0940 \u0930\u093f\u091c\u0930\u094d\u0935 \u0915\u0930\u0947\u0902\u0938\u0940 \u0939\u0948, \u0905\u092e\u0947\u0930\u093f\u0915\u093e \u091b\u092a\u093e\u0908 \u092e\u0936\u0940\u0928 \u091a\u0932\u093e \u0926\u0947\u0917\u093e\u0964&#8221;<\/p>\n<p>\u0905\u092c \u092d\u093e\u0930\u0924 \u0915\u094b \u0926\u0947\u0916\u093f\u090f\u0964 \u0939\u092e\u093e\u0930\u093e \u0915\u0930\u094d\u091c \u091c\u0940\u0921\u0940\u092a\u0940 \u0915\u093e \u0915\u0930\u0940\u092c 85% \u0939\u0948, \u091c\u094b \u0905\u092e\u0947\u0930\u093f\u0915\u093e \u0938\u0947 \u0915\u092e \u0939\u0940 \u0939\u0948\u0964 \u0939\u092e \u0926\u0941\u0928\u093f\u092f\u093e \u0915\u0940 \u0938\u092c\u0938\u0947 \u0924\u0947\u091c\u0940 \u0938\u0947 \u092c\u0922\u093c\u0924\u0940 \u092c\u0921\u093c\u0940 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0939\u0948\u0902, \u0935\u093f\u0926\u0947\u0936\u0940 \u092e\u0941\u0926\u094d\u0930\u093e \u092d\u0902\u0921\u093e\u0930 600 \u092c\u093f\u0932\u093f\u092f\u0928 \u0921\u0949\u0932\u0930 \u0915\u0947 \u0915\u0930\u0940\u092c \u0939\u0948\u0964 \u092b\u093f\u0930 \u092d\u0940, \u0939\u092e\u0947\u0902 &#8216;BBB-&#8216; \u092e\u093f\u0932\u0924\u093e \u0939\u0948 \u2014 \u091c\u094b \u0938\u093f\u0930\u094d\u092b \u090f\u0915 \u0915\u0926\u092e &#8216;\u091c\u0902\u0915&#8217; (\u092c\u0947\u0915\u093e\u0930) \u0930\u0947\u091f\u093f\u0902\u0917 \u0938\u0947 \u090a\u092a\u0930 \u0939\u0948\u0964 \u092f\u093e\u0928\u0940 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0932\u093f\u0939\u093e\u091c \u0938\u0947 \u092d\u093e\u0930\u0924 \u0915\u094b &#8216;\u091c\u094b\u0916\u093f\u092e \u092d\u0930\u093e&#8217; \u092c\u0924\u093e\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u0915\u094d\u092f\u093e \u092f\u0939 \u0938\u093f\u0930\u094d\u092b \u0938\u0902\u092f\u094b\u0917 \u0939\u0948?<\/p>\n<p>\u092e\u0948\u0902 \u0906\u092a\u0915\u094b \u090f\u0915 \u0914\u0930 \u091a\u094c\u0902\u0915\u093e\u0928\u0947 \u0935\u093e\u0932\u093e \u0909\u0926\u093e\u0939\u0930\u0923 \u0926\u0947\u0924\u093e \u0939\u0942\u0901\u0964 \u0938\u093e\u0932 2008 \u0915\u0940 \u0935\u0948\u0936\u094d\u0935\u093f\u0915 \u092e\u0902\u0926\u0940 (Global Financial Crisis) \u092f\u093e\u0926 \u0939\u0948? \u0935\u0939 \u0924\u092c \u0906\u0908, \u091c\u092c \u0905\u092e\u0947\u0930\u093f\u0915\u093e \u0915\u0947 \u0938\u092c\u0938\u0947 \u092c\u0921\u093c\u0947 \u092c\u0948\u0902\u0915\u094b\u0902 (Lehman Brothers, Bear Stearns) \u0915\u094b \u0907\u0928\u094d\u0939\u0940\u0902 \u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u094b\u0902 \u0928\u0947 &#8216;AAA&#8217; (\u0938\u092c\u0938\u0947 \u0938\u0941\u0930\u0915\u094d\u0937\u093f\u0924) \u0915\u093e \u0926\u0930\u094d\u091c\u093e \u0926\u0947 \u0930\u0916\u093e \u0925\u093e\u0964 \u090f\u0915 \u0924\u0930\u092b \u0935\u0947 \u0905\u092e\u0947\u0930\u093f\u0915\u0940 \u092c\u0948\u0902\u0915\u094b\u0902 \u0915\u094b &#8216;AAA&#8217; \u0926\u0947 \u0930\u0939\u0947 \u0925\u0947, \u091c\u094b \u0915\u0941\u091b \u092e\u0939\u0940\u0928\u094b\u0902 \u092c\u093e\u0926 \u0926\u093f\u0935\u093e\u0932\u093f\u092f\u093e \u0939\u094b \u0917\u090f, \u0914\u0930 \u0926\u0942\u0938\u0930\u0940 \u0924\u0930\u092b \u092d\u093e\u0930\u0924 \u091c\u0948\u0938\u0947 \u092e\u091c\u092c\u0942\u0924 \u092b\u0902\u0921\u093e\u092e\u0947\u0902\u091f\u0932 \u0935\u093e\u0932\u0947 \u0926\u0947\u0936 \u0915\u094b &#8216;BBB&#8217;\u0964 \u092f\u0939 \u0926\u094b\u0917\u0932\u093e\u092a\u0928 \u0939\u0940 \u0907\u0928 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u094b\u0902 \u0915\u0940 \u0905\u0938\u0932\u0940 \u0924\u0938\u094d\u0935\u0940\u0930 \u0939\u0948\u0964<\/p>\n<p><strong>2. \u091c\u093f\u092f\u094b\u092a\u0949\u0932\u093f\u091f\u093f\u0915\u094d\u0938 \u0915\u093e \u0916\u0947\u0932: \u0930\u0942\u0938-\u091a\u0940\u0928 \u0914\u0930 &#8216;\u092a\u094d\u0930\u0924\u093f\u0936\u094b\u0927&#8217; \u0915\u0940 \u0930\u0947\u091f\u093f\u0902\u0917<\/strong><br \/>\n\u092f\u0947 \u0930\u0947\u091f\u093f\u0902\u0917 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\u0915\u094d\u092f\u093e \u092f\u0947 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u093e\u0902 \u0924\u091f\u0938\u094d\u0925 \u0930\u0939\u0947\u0902\u0917\u0940?<\/p>\n<p>\u092f\u0942\u0915\u094d\u0930\u0947\u0928 \u092f\u0941\u0926\u094d\u0927 \u0936\u0941\u0930\u0942 \u0939\u094b\u0924\u0947 \u0939\u0940, S&amp;P \u0914\u0930 Fitch \u0928\u0947 \u0930\u0942\u0938 \u0915\u0940 \u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u0915\u093e\u090f\u0915 &#8216;CCC&#8217; \u0938\u0947 &#8216;C&#8217; \u0924\u0915 \u0917\u093f\u0930\u093e \u0926\u0940\u0964 \u0915\u0941\u091b \u0939\u0940 \u0939\u092b\u094d\u0924\u094b\u0902 \u092e\u0947\u0902 \u0930\u0942\u0938 &#8216;\u0921\u093f\u092b\u0949\u0932\u094d\u091f&#8217; (\u0915\u0930\u094d\u091c \u0928 \u091a\u0941\u0915\u093e \u092a\u093e\u0928\u0947 \u0915\u0940 \u0938\u094d\u0925\u093f\u0924\u093f) \u0915\u0940 \u0915\u0917\u093e\u0930 \u092a\u0930 \u092a\u0939\u0941\u0902\u091a \u0917\u092f\u093e\u0964 \u0905\u092c \u0938\u091a \u092a\u0942\u091b\u093f\u090f? \u0915\u094d\u092f\u093e \u0930\u0942\u0938 \u0915\u0940 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0909\u0924\u0928\u0940 \u092c\u0941\u0930\u0940 \u0925\u0940, \u092f\u093e \u092f\u0939 \u0909\u0938\u0947 \u0905\u0902\u0924\u0930\u0930\u093e\u0937\u094d\u091f\u094d\u0930\u0940\u092f \u092c\u093e\u091c\u093e\u0930 \u0938\u0947 \u0915\u093e\u091f\u0928\u0947 \u0915\u0940 \u0938\u093e\u091c\u093f\u0936 \u0925\u0940?<\/p>\n<p>\u092f\u0939\u0940 \u0928\u0939\u0940\u0902, \u091c\u092c \u092d\u0940 \u092d\u093e\u0930\u0924 \u0928\u0947 \u0930\u0942\u0938 \u0938\u0947 \u0924\u0947\u0932 \u0916\u0930\u0940\u0926\u093e, \u092f\u093e \u091a\u0940\u0928 \u0915\u0947 \u092c\u0947\u0932\u094d\u091f \u090f\u0902\u0921 \u0930\u094b\u0921 \u092a\u094d\u0930\u094b\u091c\u0947\u0915\u094d\u091f \u092e\u0947\u0902 \u0939\u093f\u0938\u094d\u0938\u093e \u0932\u093f\u092f\u093e, \u0924\u094b \u0907\u0928 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u094b\u0902 \u0928\u0947 \u0924\u0941\u0930\u0902\u0924 &#8216;\u0928\u0915\u093e\u0930\u093e\u0924\u094d\u092e\u0915 \u0906\u0909\u091f\u0932\u0941\u0915&#8217; \u091c\u093e\u0930\u0940 \u0915\u0930 \u0926\u093f\u092f\u093e\u0964 \u092f\u093e\u0928\u0940 \u0905\u0917\u0930 \u0906\u092a \u092a\u0936\u094d\u091a\u093f\u092e \u0915\u0940 \u0935\u093f\u0926\u0947\u0936 \u0928\u0940\u0924\u093f \u0915\u0947 \u0916\u093f\u0932\u093e\u092b \u091c\u093e\u090f\u0902\u0917\u0947, \u0924\u094b \u0906\u092a\u0915\u0940 \u0915\u094d\u0930\u0947\u0921\u093f\u091f \u0930\u0947\u091f\u093f\u0902\u0917 \u092c\u093f\u0917\u0921\u093c \u091c\u093e\u090f\u0917\u0940\u0964 \u092f\u0947 \u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u093e\u0902 &#8216;\u0907\u0915\u094b\u0928\u0949\u092e\u093f\u0915 \u0928\u093e\u091f\u094b&#8217; \u0915\u0940 \u0924\u0930\u0939 \u0915\u093e\u092e \u0915\u0930\u0924\u0940 \u0939\u0948\u0902 \u2014 \u090f\u0915 \u0939\u0925\u093f\u092f\u093e\u0930, \u091c\u094b \u091c\u093f\u092f\u094b\u092a\u0949\u0932\u093f\u091f\u093f\u0915\u0932 \u0926\u0941\u0936\u094d\u092e\u0928\u094b\u0902 \u0915\u094b \u0906\u0930\u094d\u0925\u093f\u0915 \u0930\u0942\u092a \u0938\u0947 \u0918\u0941\u091f\u0928\u094b\u0902 \u092a\u0930 \u0932\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964<\/p>\n<p><strong>3. &#8216;\u091c\u0902\u0915 \u0930\u0947\u091f\u093f\u0902\u0917&#8217; \u0915\u093e \u091c\u093e\u0932: \u0915\u0930\u094d\u091c\u0926\u093e\u0930\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0906\u0924\u094d\u092e\u0918\u093e\u0924\u0940 \u092c\u0942\u092e\u0930\u0948\u0902\u0917<\/strong><br \/>\n\u0906\u092a\u0915\u094b \u0938\u092c\u0938\u0947 \u0926\u0930\u094d\u0926\u0928\u093e\u0915 \u0939\u0915\u0940\u0915\u0924 \u092c\u0924\u093e\u0924\u093e \u0939\u0942\u0901\u0964 \u091c\u092c \u0915\u094b\u0908 \u092a\u0936\u094d\u091a\u093f\u092e\u0940 \u090f\u091c\u0947\u0902\u0938\u0940 \u0915\u093f\u0938\u0940 \u0935\u093f\u0915\u093e\u0938\u0936\u0940\u0932 \u0926\u0947\u0936 \u0915\u094b &#8216;\u091c\u0902\u0915&#8217; (BB \u092f\u093e \u0909\u0938\u0938\u0947 \u0928\u0940\u091a\u0947) \u0930\u0947\u091f\u093f\u0902\u0917 \u0926\u0947\u0924\u0940 \u0939\u0948, \u0924\u094b \u0915\u094d\u092f\u093e \u0939\u094b\u0924\u093e \u0939\u0948? \u0905\u0902\u0924\u0930\u0930\u093e\u0937\u094d\u091f\u094d\u0930\u0940\u092f \u0928\u093f\u0935\u0947\u0936\u0915 \u0909\u0938 \u0926\u0947\u0936 \u0938\u0947 \u092a\u0948\u0938\u093e \u0928\u093f\u0915\u093e\u0932\u0928\u093e \u0936\u0941\u0930\u0942 \u0915\u0930 \u0926\u0947\u0924\u0947 \u0939\u0948\u0902\u0964 \u0909\u0938 \u0926\u0947\u0936 \u0915\u0940 \u0915\u0930\u0947\u0902\u0938\u0940 \u0917\u093f\u0930 \u091c\u093e\u0924\u0940 \u0939\u0948\u0964 \u0909\u0938\u0947 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u0947\u0902 2% \u0938\u0947 \u092c\u0922\u093c\u0915\u0930 15-20% \u092a\u0930 \u0915\u0930\u094d\u091c \u0932\u0947\u0928\u093e \u092a\u0921\u093c\u0924\u093e \u0939\u0948\u0964 \u0914\u0930 \u092b\u093f\u0930 \u0935\u0939 \u0926\u0947\u0936 &#8216;\u0921\u093f\u092b\u0949\u0932\u094d\u091f&#8217; \u0915\u0930\u0928\u0947 \u0915\u094b \u092e\u091c\u092c\u0942\u0930 \u0939\u094b \u091c\u093e\u0924\u093e \u0939\u0948\u0964 \u092f\u093e\u0928\u0940 \u090f\u091c\u0947\u0902\u0938\u0940 \u0928\u0947 &#8216;\u0921\u093f\u092b\u0949\u0932\u094d\u091f&#8217; \u0915\u0940 \u092d\u0935\u093f\u0937\u094d\u092f\u0935\u093e\u0923\u0940 \u0915\u0940, \u0914\u0930 \u092b\u093f\u0930 \u0905\u092a\u0928\u0940 \u0909\u0938\u0940 \u092d\u0935\u093f\u0937\u094d\u092f\u0935\u093e\u0923\u0940 \u0915\u094b \u0938\u091a \u0915\u0930 \u0926\u093f\u0916\u093e\u092f\u093e \u2014 \u092f\u0939 \u090f\u0915 &#8216;Self-Fulfilling Prophecy&#8217; \u0939\u0948\u0964<\/p>\n<p>1997 \u092e\u0947\u0902 \u090f\u0936\u093f\u092f\u093e\u0908 \u0926\u0947\u0936\u094b\u0902 (\u0925\u093e\u0908\u0932\u0948\u0902\u0921, \u0926\u0915\u094d\u0937\u093f\u0923 \u0915\u094b\u0930\u093f\u092f\u093e, \u0907\u0902\u0921\u094b\u0928\u0947\u0936\u093f\u092f\u093e) \u0915\u0947 \u0938\u093e\u0925 \u092f\u0939\u0940 \u0939\u0941\u0906\u0964 2001 \u092e\u0947\u0902 \u0905\u0930\u094d\u091c\u0947\u0902\u091f\u0940\u0928\u093e \u0915\u0947 \u0938\u093e\u0925 \u092f\u0939\u0940 \u0939\u0941\u0906\u0964 \u0939\u0930 \u092c\u093e\u0930 \u0907\u0928 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u094b\u0902 \u0928\u0947 \u092a\u0939\u0932\u0947 \u0930\u0947\u091f\u093f\u0902\u0917 \u0918\u091f\u093e\u0908, \u092b\u093f\u0930 \u092a\u0942\u0902\u091c\u0940 \u092a\u0932\u093e\u092f\u0928 \u0939\u0941\u0906, \u092b\u093f\u0930 \u0905\u0930\u094d\u0925\u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u0924\u092c\u093e\u0939\u0964 \u0914\u0930 \u092e\u091c\u0947 \u0915\u0940 \u092c\u093e\u0924 \u092f\u0947 \u0939\u0948 \u0915\u093f \u0907\u0928 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u094b\u0902 \u0915\u094b \u0915\u094b\u0908 \u091c\u0935\u093e\u092c\u0926\u0947\u0939\u0940 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 2008 \u0915\u0940 \u092e\u0902\u0926\u0940 \u092e\u0947\u0902 \u0905\u0930\u092c\u094b\u0902 \u0915\u093e \u0928\u0941\u0915\u0938\u093e\u0928 \u0915\u0930\u093e\u0928\u0947 \u0915\u0947 \u092c\u093e\u0926 \u092d\u0940 \u0907\u0928 \u092a\u0930 \u0915\u094b\u0908 \u092c\u0921\u093c\u093e \u091c\u0941\u0930\u094d\u092e\u093e\u0928\u093e \u0928\u0939\u0940\u0902 \u0932\u0917\u093e\u0964 \u0915\u094d\u092f\u094b\u0902? \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0905\u092e\u0947\u0930\u093f\u0915\u0940 \u0938\u0930\u0915\u093e\u0930 \u0915\u094b \u0907\u0928\u0915\u0940 \u091c\u0930\u0942\u0930\u0924 \u0939\u0948\u0964<\/p>\n<p><strong>4. \u0926\u094b\u0927\u093e\u0930\u0940 \u0924\u0932\u0935\u093e\u0930: \u0915\u094d\u092f\u093e \u092d\u093e\u0930\u0924 \u0915\u094b \u0905\u092a\u0928\u0940 \u0918\u0930\u0947\u0932\u0942 \u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u091c\u0947\u0902\u0938\u0940 \u092c\u0928\u093e\u0928\u0940 \u091a\u093e\u0939\u093f\u090f?<\/strong><br \/>\n\u092f\u0939\u093e\u0901 \u090f\u0915 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0938\u0935\u093e\u0932 \u0906\u0924\u093e \u0939\u0948\u0964 \u0906\u0916\u093f\u0930 \u0939\u092e \u0907\u0928 &#8216;\u092c\u093f\u0917 \u0925\u094d\u0930\u0940&#8217; \u0915\u0947 \u092d\u0930\u094b\u0938\u0947 \u0915\u094d\u092f\u094b\u0902 \u092c\u0948\u0920\u0947 \u0939\u0948\u0902? \u092d\u093e\u0930\u0924 \u0915\u0940 \u0905\u092a\u0928\u0940 \u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u093e\u0902 \u0939\u0948\u0902 \u2014 CARE, ICRA, CRISIL (\u091c\u093f\u0938\u092e\u0947\u0902 S&amp;P \u0915\u093e \u0939\u093f\u0938\u094d\u0938\u093e \u092d\u0940 \u0939\u0948)\u0964 \u0932\u0947\u0915\u093f\u0928 \u0909\u0928\u0915\u0940 \u0905\u0902\u0924\u0930\u0930\u093e\u0937\u094d\u091f\u094d\u0930\u0940\u092f \u0926\u0930\u094d\u091c\u0947 \u092e\u0947\u0902 \u0915\u094b\u0908 \u0907\u091c\u094d\u091c\u0924 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0915\u094d\u092f\u094b\u0902? \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0926\u0941\u0928\u093f\u092f\u093e \u0915\u0947 \u0938\u093e\u0930\u0947 \u092c\u0921\u093c\u0947 \u0928\u093f\u0935\u0947\u0936 \u0915\u094b\u0937 (Pension Funds, Sovereign Wealth Funds) \u0905\u092e\u0947\u0930\u093f\u0915\u093e \u0914\u0930 \u092f\u0942\u0930\u094b\u092a \u092e\u0947\u0902 \u0930\u091c\u093f\u0938\u094d\u091f\u0930\u094d\u0921 \u0939\u0948\u0902, \u0914\u0930 \u0909\u0928\u0915\u0947 \u0928\u093f\u092f\u092e \u0915\u0939\u0924\u0947 \u0939\u0948\u0902 \u2014 &#8220;\u091c\u092c \u0924\u0915 Moody\u2019s \u092f\u093e S&amp;P \u0928\u0947 &#8216;\u0907\u0928\u094d\u0935\u0947\u0938\u094d\u091f\u092e\u0947\u0902\u091f \u0917\u094d\u0930\u0947\u0921&#8217; \u0928 \u0926\u093f\u092f\u093e \u0939\u094b, \u0924\u092c \u0924\u0915 \u092a\u0948\u0938\u093e \u092e\u0924 \u0932\u0917\u093e\u0913\u0964&#8221;<\/p>\n<p>\u092f\u0939 \u090f\u0915 \u0915\u093e\u0930\u094d\u091f\u0947\u0932 \u0939\u0948\u0964 \u092f\u0947 \u0924\u0940\u0928\u094b\u0902 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u092c\u093e\u091c\u093e\u0930 \u0915\u093e 95% \u0939\u093f\u0938\u094d\u0938\u093e \u091a\u0932\u093e\u0924\u0940 \u0939\u0948\u0902\u0964 \u0906\u092a \u091a\u093e\u0939\u0947 \u0915\u093f\u0924\u0928\u0940 \u092d\u0940 \u092e\u0947\u0939\u0928\u0924 \u0915\u0930 \u0932\u0947\u0902, \u0907\u0928\u0915\u0947 \u0938\u0930\u094d\u091f\u093f\u092b\u093f\u0915\u0947\u091f \u0915\u0947 \u092c\u093f\u0928\u093e \u0906\u092a\u0915\u093e &#8216;\u092c\u0948\u0930\u094b&#8217; (\u0915\u0930\u094d\u091c \u0932\u0947\u0928\u0947 \u0915\u093e \u0939\u0915) \u0915\u092d\u0940 \u0938\u0938\u094d\u0924\u093e \u0928\u0939\u0940\u0902 \u0939\u094b\u0917\u093e\u0964<\/p>\n<p><strong>5. \u0915\u0941\u091b \u092e\u0941\u0936\u094d\u0915\u093f\u0932 \u0938\u0935\u093e\u0932 \u0914\u0930 \u0920\u094b\u0938 \u0906\u0902\u0915\u0921\u093c\u0947<\/strong><br \/>\n\u0905\u092c \u092e\u0948\u0902 \u0906\u092a\u0938\u0947 \u0938\u0940\u0927\u0947 \u0938\u0935\u093e\u0932 \u092a\u0942\u091b\u0924\u093e \u0939\u0942\u0901:<\/p>\n<ul>\n<li>\u0915\u094d\u092f\u094b\u0902 \u091a\u0940\u0928 \u0915\u0940 \u0930\u0947\u091f\u093f\u0902\u0917 (A+) \u092d\u093e\u0930\u0924 (BBB-) \u0938\u0947 \u090a\u092a\u0930 \u0939\u0948, \u091c\u092c\u0915\u093f \u091a\u0940\u0928 \u0915\u0947 \u092c\u0948\u0902\u0915\u094b\u0902 \u092e\u0947\u0902 \u092c\u0947\u0939\u0926 \u091c\u094d\u092f\u093e\u0926\u093e \u0915\u0930\u094d\u091c (Debt to GDP ~ 280%) \u0939\u0948?<\/li>\n<li>\u0915\u094d\u092f\u094b\u0902 \u092a\u093f\u091b\u0932\u0947 10 \u0938\u093e\u0932 \u092e\u0947\u0902 \u0905\u092e\u0947\u0930\u093f\u0915\u093e \u0928\u0947 \u0905\u092a\u0928\u0940 \u0921\u0947\u091f \u0938\u0940\u092e\u093f\u0902\u0917 (\u0909\u0927\u093e\u0930\u0940 \u0915\u0940 \u091b\u0924) 20 \u0938\u0947 \u091c\u094d\u092f\u093e\u0926\u093e \u092c\u093e\u0930 \u092c\u0922\u093c\u093e\u0908, \u092b\u093f\u0930 \u092d\u0940 \u0909\u0938\u0915\u0940 \u0930\u0947\u091f\u093f\u0902\u0917 \u0928\u0939\u0940\u0902 \u0917\u093f\u0930\u0940?<\/li>\n<li>\u0915\u094d\u092f\u094b\u0902 \u0905\u092b\u094d\u0930\u0940\u0915\u0940 \u0926\u0947\u0936\u094b\u0902 \u0915\u094b \u0939\u092e\u0947\u0936\u093e &#8216;B&#8217; \u092f\u093e &#8216;C&#8217; \u0917\u094d\u0930\u0947\u0921 \u092e\u093f\u0932\u0924\u093e \u0939\u0948, \u092c\u093e\u0935\u091c\u0942\u0926 \u0907\u0938\u0915\u0947 \u0915\u093f \u0909\u0928\u092e\u0947\u0902 \u0938\u0947 \u0915\u0908 \u0915\u0947 \u092a\u093e\u0938 \u092a\u094d\u0930\u093e\u0915\u0943\u0924\u093f\u0915 \u0938\u0902\u0938\u093e\u0927\u0928\u094b\u0902 \u0915\u093e \u092d\u0902\u0921\u093e\u0930 \u0939\u0948?<\/li>\n<\/ul>\n<p>\u0907\u0928 \u0938\u0935\u093e\u0932\u094b\u0902 \u0915\u093e \u091c\u0935\u093e\u092c \u090f\u0915 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\u0939\u0948\u0964 \u0939\u092e \u090f\u0915 \u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e \u092e\u0947\u0902 \u091c\u0940 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u092a\u0939\u0932\u093e \u0915\u0926\u092e \u0939\u0948 \u2014 \u0907\u0928 \u0930\u0947\u091f\u093f\u0902\u0917\u094d\u0938 \u0915\u094b \u0908\u0936\u094d\u0935\u0930 \u0915\u093e \u092b\u0930\u092e\u093e\u0928 \u0928 \u092e\u093e\u0928\u0928\u093e\u0964 \u091c\u092c \u0915\u094b\u0908 \u092a\u0936\u094d\u091a\u093f\u092e\u0940 \u090f\u091c\u0947\u0902\u0938\u0940 \u0915\u0939\u0924\u0940 \u0939\u0948, &#8220;\u092d\u093e\u0930\u0924 \u0915\u093e \u0906\u0909\u091f\u0932\u0941\u0915 \u0928\u0947\u0917\u0947\u091f\u093f\u0935 \u0939\u0948,&#8221; \u0924\u094b \u0939\u092e\u0947\u0902 \u092c\u093f\u0928\u093e \u0918\u092c\u0930\u093e\u090f \u0926\u0947\u0916\u0928\u093e \u091a\u093e\u0939\u093f\u090f \u0915\u093f \u0935\u0947 \u0915\u094c\u0928 \u0938\u0947 &#8216;\u090f\u0902\u0917\u0932&#8217; \u0938\u0947 \u0926\u0947\u0916 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964<\/p>\n<p>\u0926\u0942\u0938\u0930\u093e \u0915\u0926\u092e \u0939\u0948 \u2014 \u0935\u0948\u0936\u094d\u0935\u093f\u0915 \u0938\u094d\u0924\u0930 \u092a\u0930 \u090f\u0915 \u0928\u0908, \u092c\u0939\u0941\u0927\u094d\u0930\u0941\u0935\u0940\u092f \u0930\u0947\u091f\u093f\u0902\u0917 \u092a\u094d\u0930\u0923\u093e\u0932\u0940 \u0915\u0940 \u0935\u0915\u093e\u0932\u0924 \u0915\u0930\u0928\u093e\u0964 \u092c\u094d\u0930\u093f\u0915\u094d\u0938 (BRICS) \u0926\u0947\u0936 \u0907\u0938 \u0926\u093f\u0936\u093e \u092e\u0947\u0902 \u0915\u094b\u0936\u093f\u0936 \u0915\u0930 \u0930\u0939\u0947 \u0939\u0948\u0902\u0964 \u0930\u0942\u0938 \u0914\u0930 \u091a\u0940\u0928 \u0928\u0947 \u092e\u093f\u0932\u0915\u0930 &#8216;ACRA&#8217; (Analytical Credit Rating Agency) \u091c\u0948\u0938\u0940 \u0905\u092a\u0928\u0940 \u090f\u091c\u0947\u0902\u0938\u0940 \u092c\u0928\u093e\u0908 \u0939\u0948\u0964 \u092d\u093e\u0930\u0924 \u0915\u094b 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\u0915\u0940 \u0928\u0939\u0940\u0902, \u092c\u0932\u094d\u0915\u093f \u092d\u0942-\u0930\u093e\u091c\u0928\u0940\u0924\u093f\u0915 \u0928\u093f\u092f\u0902\u0924\u094d\u0930\u0923 \u0915\u0940 &#8216;\u092c\u0924\u0902\u0917\u0930&#8217; \u0939\u0948\u0902\u0964 \u092f\u0947 \u0935\u0939\u0940 \u0932\u094b\u0917 \u0939\u0948\u0902, \u091c\u093f\u0928\u094d\u0939\u094b\u0902\u0928\u0947 2008 \u092e\u0947\u0902 \u0926\u0941\u0928\u093f\u092f\u093e \u0915\u094b \u0932\u0917\u092d\u0917 \u0926\u093f\u0935\u093e\u0932\u093f\u092f\u093e \u0915\u0930 \u0926\u093f\u092f\u093e \u0925\u093e, \u0914\u0930 \u091c\u093f\u0928\u094d\u0939\u094b\u0902\u0928\u0947 \u0905\u0930\u094d\u091c\u0947\u0902\u091f\u0940\u0928\u093e \u0915\u094b \u092e\u0932\u092c\u0947 \u092e\u0947\u0902 \u092c\u0926\u0932\u0924\u0947 \u0926\u0947\u0916\u093e\u0964 \u092d\u093e\u0930\u0924 \u0915\u094b \u0907\u0928\u0915\u0947 &#8216;BBB&#8217; \u092f\u093e &#8216;Stable&#8217; \u0915\u0947 \u091d\u093e\u0902\u0938\u0947 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\u0926\u0947\u0936,<\/p>","protected":false},"author":1,"featured_media":508,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,5],"tags":[927,924,918,925,923,928,926,921,917,930,931,920,919,929,922],"class_list":["post-506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-geopolitics-geoeconomics","tag-2008----","tag-fitch--","tag-moodys-sp-fitch","tag-moodys--","tag-sp--","tag-928","tag-926","tag-921","tag-917","tag-930","tag-931","tag-920","tag-919","tag-929","tag-922"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u092a\u0936\u094d\u091a\u093f\u092e\u0940 \u0930\u0947\u091f\u093f\u0902\u0917 \u090f\u091c\u0947\u0902\u0938\u093f\u092f\u094b\u0902 \u0915\u0940 \u0915\u093e\u0932\u0940 \u0938\u091a\u094d\u091a\u093e\u0908: 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