This short post is concerned with the attempt by a non-profit organisation to inject some much needed responsibility and care into the credit rating industry. Based on a published article that is available here in its final form in The Company Lawyer , and here in its pre-published and different form, this post will look at the International Non-Profit Credit Rating Agency (hereafter INCRA) and its aims, as well as some of its shortfalls. Ultimately, it is concluded that whilst the endeavour is incredibly worthy and should be praised, the environment is skewed against newcomers to the rating marketplace, and especially those trying to reduce the impact of the venal 'Big Two' – Moody’s, and Standard & Poor’s. INCRA was initially developed by the Bertelsmann Foundation in 2011, organically as a result of its research into the quality of nation states’ quality of governance via its Transformation Index . As such, the newly-imagined rating agency set its sights on...