According to Mars Finance news, on August 8, rating agency S&P Global assigned a credit rating of B- to the DeFi protocol Sky (formerly MakerDAO) for the first time, which is equivalent to the sovereign debt rating of the Democratic Republic of the Congo, categorized as a high-risk 'speculative grade'. S&P noted that Sky's current risks mainly include high depositor concentration, excessive reliance on founder Rune Christensen, and uncertainty regarding DeFi regulation. However, they also acknowledged that since 2020, the credit losses have been low and earnings stable. This rating does not cover the governance token SKY, but only involves USDS, DAI, and its savings derivatives. Sky is the fourth largest stablecoin issuer on Ethereum, with a circulation of $7.9 billion. Sky responded that this rating is the first step towards aligning with the traditional financial system, and subsequent ratings may be upgraded as the understanding of DeFi improves. Analysts believe that although this is not an investment-grade rating, it signifies that mainstream rating agencies are beginning to seriously evaluate the credit status of DeFi protocols. (DL News)