Studying history of rating agencies, rating advisors, rating analysts and their approaches, criteria and systems is important because it allows us to understand our past, which in turn allows us to understand our present and build the future. If we want to know how and why our world is the way it is today, we have to look to history for answers. How fare are we on our way to create a world of confidence? People often say that “history repeats itself,” but if we study the successes and failures of the past, we may be able to learn from our mistakes and avoid repeating them in the future. Studying history can provide us with insight into the origin of evaluation systems, rankings and ratings as well as rating approaches with which we might be less familiar, thereby increasing cross-cultural awareness and understanding.