Credit Ratings
Credit ratings and credit risk
... corporate credit ratings relevant to investors concerned about credit ...that ratings relate to two economically di¤erent aspects of credit risk: raw default probability (expected ...
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Empirical Research on Corporate Credit-Ratings
... credit ratings. Financial statements form the core element of determining credit rat- ...to credit rating change predictions might produce inaccurate ...
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Methodology for Cbonds Credit Ratings Database
... of credit ratings is rated according to standard rating scales (Long-term international local currency rating, Long-term international foreign currency rating, Long-term national scale ...
5
Determinants and Impact of Sovereign Credit Ratings
... that ratings are treated as cardinal variables, it is the only feasible approach given that we have just forty-nine jointly rated sovereigns and sixteen potential rating ...corporate ratings, Ederington ...
18
Credit ratings and bank monitoring ability
... a credit bureau possesses, and if credit ratings summarize the information included in them, then bank credit ratings should be able to forecast future changes in credit bureau ...
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IMPACT OF CREDIT RATINGS ON STOCK RETURNS
... in credit ratings have different effects on stock returns (Bissoondoyal-Bheenick and Brooks, ...bond ratings (Weinstein, 1977; Pinches and Singleton, ...in credit ratings have both bond ...
24
Credit Ratings and Bank Monitoring Ability
... Diamond (1984) and Fama (1985) first put forth the hypothesis that banks were special relative to alternative lenders: Investors delegate the monitoring of borrowers to financial intermediaries because the latter are ...
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Essays on sovereign credit ratings in Africa
... in ratings by the different rating ...assigning credit ratings to African sovereigns. Credit rating agencies do not all take the unique features of sovereigns into account when determining ...
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Novel Approaches on Sovereign Credit Ratings
... Sovereign credit rating is determined using quantitative and qualitative features devel- oped by the CRAs, taking into account the economic and political risks of the ...of credit ratings has ...
13
Addicted to Ratings: The Case for Reducing Governments’ Reliance on Credit Ratings
... to credit ratings could be replaced by a minimum purchase amount, which is a good proxy that the buyer is sophisticated enough to assess the riskiness associated with a short-term debt ...
12
Credit ratings failures and policy options
... where credit ratings are paid by investors, and where arrangers and servicers disclose for free the complete data on the individual loans underlying the structured finance products, so that buy-side ...
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Credit Ratings in the Japanese Bond Market
... This situation changed in the 1990s. After the bond market was deregulated, firms that had not been allowed to issue bonds before could now issue them, and actually did issue. Unfortunately, several bond issuers went ...
30
The informational value of sovereign credit ratings
... of credit default swap spreads supports the ...sovereign credit ratings as high as possible, in order to prevent dramatic increases in costs for debt ...
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What’s (Still) Wrong with Credit Ratings?
... lower ratings are associated with greater default ...publish credit ratings that are correlated with defaults, simply by following market prices, reading the news, and then adjusting ...whether ...
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Credit Ratings in the Japanese Bond Market
... This situation changed in the 1990s. After the bond market was deregulated, firms that had not been allowed to issue bonds before could now issue them, and actually did issue. Unfortunately, several bond issuers went ...
30
Tiebreaker: Certification and Multiple Credit Ratings
... issue credit ratings, characteristics and market prices to evaluate some of these proposed ...multiple credit ratings of the same bond issue at the same point of time, with Fitch ...
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Accounting for the determinants of banks’ credit ratings
... of credit rating agencies to evaluate these risks in ...banks’ credit ratings using a sample of US and UK banks’ accounting data from 1994 to ...banks’ ratings reflect banks’ ...assign ...
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Credit Ratings and Firm Litigation Risk
... affect credit ratings such as firm size, capital structure, and return on ...and credit ratings sustains even after including other factors that potentially affect credit ratings ...
44
Credit Ratings Failures and Policy Options
... where credit ratings are paid by investors, and where arrangers and servicers disclose for free the complete data on the individual loans underlying the structured finance products, so that buy-side ...
34
Subnational credit ratings : a comparative review
... the credit ratings of the subnational entity, this could create moral hazard, as argued by Ianchovichina, Liu and Nagarajan (2007) and Liu and Waibel (2008a, ...
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