But here's the situation: the rating agency market is dominated by three players and three players only -- Standard &amp; Poor's, Moody's, and Fitch -- and we know whenever there is a market concentration, there is really no competition.
Pero a situación e outra. O mercado das axencias de cualificación contrólano única e exclusivamente tres entidades: Standard &amp; Poor's, Moody's, and Fitch, e sabemos que en canto hai  unha concentración de mercado en verdade non hai competencia.