Market liberalization, the dynamic process of globalization and the creation of a world-wide global financial system, credit rating agencies became the main actors on the capitalist scene. Rating agencies are becoming the central element of decision-making and assessment that are reflected on the state, but also on companies. The way of seeing the agency is built up through numerous criticisms, reviewing and changing regulation in many economies. The problem of reducing credit ratings by certain countries during the last financial crisis or the so-called The Subprime crisis and the Asian crisis that marked the past century led the rating agencies to the center of attention. The complexity of financial markets coupled with changing the investor's preferences has led to a huge increase in rating agencies, whose dominance continues. On the other hand, rating agencies have been at the center of attention and have become the main factor of re-examination by policy-makers and investors themselves. The emergence of a new financial collapse will depend on the applicability of the new US and European regulations. As mentioned, it reflects the possibility of a new financial crisis that could be deciphered in every spectrum of financial systems in relation to the past crisis of 2008 and what the future itself is behind the capitalist leadership of the state, it is trying to be explored in this master thesis.