EU failing to encourage more competition for Big Three rating agencies

EU attempts to inject more competition into credit ratings still have a long way to go as the bloc’s latest market share figures confirm the growing dominance of the Big Three agencies.

Standard & Poor’s has a market share of 40.42% in the 28-country bloc, followed by Moody’s Group, with 34.67%.

Fitch is third, with 16.8%, figures from the EU’s European Securities and Markets Authority showed yesterday.