MAY THE CREDIT RATING AGENCIES STAY NEUTRAL REGARDING CONSTITUTIONAL DEGRADATION?

The aim is to expose how the credit rating system remains indifference to the constitutional degradation phenomenon and the political importance to pursue a change for making the rating reflects the constitutional degradation and how democracy is undermined in the evaluated States.

To achieve this purpose, the research is divided in three parts: 1. (The past) Does exist evidence about any historical democracy advantages in the qualification doing by the Big three (Standard & Poor´s; Moody´s and Fitch)? 2. (The present) Is the current constitutional degradation affecting the ranking of the considered as “Illiberal democracies” (Singapore,Hungary, Poland, Turkey)? 3. (The future) Why and how to remedy the current situation? The main Regulation projects of the credit rating agencies will be introduced as a tool to create the obligation to review their methodologies and evaluation criteria taking into consideration the statu quo of the democracy and the guarantees of rights.