What Can and Cannot Be Done about Rating Agencies
Nicolás, Véron
Abstract
Nicolás, Véron
Abstract
Credit Rating Agencies (CRAs) are prominent participants in the assessment of credit risk by financial markets. They determine and publish credit ratings, which represent the CRA’s opinions on issuers’ relative probability of default. The market for credit ratings is currently dominated in most western countries by three players:
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Credit Rating Agencies (CRAs) are prominent participants in the assessment of credit risk by financial markets. They determine and publish credit ratings, which represent the CRA’s opinions on issuers’ relative probability of default. The market for credit ratings is currently dominated in most western countries by three players:
Key concepts: Credit rating, Bond credit rating, Credit reference, Issuer, Credit history, Credit enhancement, Credit risk, Probability of default