Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the accuracy of credit rating agencies in assigning sovereign credit ratings to African countries.

Credit rating agencies have an important role in rating the investment risk of sovereigns. This allows lenders to assess risk and therefore supports the functioning and development of financial markets.

The Credit Rating Agencies Regulation requires the ratings agencies to publish the methodologies used as well as the factors they have considered in producing the rating.