The credit ratings of rating agencies have a substantial influence on the funding of listed companies on the international capital markets. To what extent the liability of national and international agencies is procedurally enforceable is the central theme of this study. Neda von Rimon explains the economic backgrounds of ratings, elucidates the historic development of agencies and analyses how they are financed. In her study she compares the German, European and US legal frameworks for the activities of rating agencies and concludes by presenting the advantages and disadvantages of the American and European regulatory methods.