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THE CREDIT RATING INDUSTRY

  • Miglionico A
Edward Elgar Publishing, (2019), 2-34
DOI: 10.4337/9781786439949.00012
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Abstract

Shows that although the ratings of credit rating agencies provide accurate rank-orderings of default risk, the meaning of specific letter grades varies over time and across agencies. Limitations of regulations; Arguments of the authors; Evolution and economics of the ratings industry; Transition to changing issuers and the role of reputation.

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APA

Miglionico, A. (2019). THE CREDIT RATING INDUSTRY. In The Governance of Credit Rating Agencies (pp. 2–34). Edward Elgar Publishing. https://doi.org/10.4337/9781786439949.00012

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