Korean credit appraisers accused of overrating companies

South Korean credit appraisers have inflated ratings of local companies to secure profit sources, analysts said Monday, raising concerns that they may overlook potential corporate failure. Three credit appraisers here, -- Korea Ratings Co., NICE Investors Service Co. and Korea Investors Service Co. -- have rated local companies on average six grades up compared with corresponding assessments by three global players -- Moody's Investors Service Inc., Standard & Poor's (S&P) and Fitch Ratings Inc., according to the Korea Center for International Finance (KCIF).