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(b) What function do ratings agencies serve in the financial markets? (Maximum: 300 words) [4 marks] Note: Part B (a) and (b) are independent questions.

(b) What function do ratings agencies serve in the financial markets? (Maximum: 300 words) [4 marks] Note: Part B (a) and (b) are independent questions. Clear, logical and succinct writing showing creativity and real understanding will be rewarded

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