Results 251 to 260 of about 127,929 (302)

Dynamic Bayesian Model of Credit Rating for Credit Bonds

2020
This paper proposes a dynamic Bayesian model for quantifying credit rating changes of bonds to address the lag phenomenon of rating transitions in the existing rating models. Based on the default probability process, the dynamic Bayesian method is used to obtain the best credit rating.
Jianhua Wu, Xuemei Yuan, Ying Zhang
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Goodwill impairment loss and bond credit rating

International Journal of Accounting & Information Management, 2017
Purpose The purpose of this study is to examine the impact of goodwill impairment losses on bond credit ratings. Design/methodology/approach The authors use regression analysis to examine the relationship between goodwill impairment losses and bond credit ratings.
Li Sun, Joseph H. Zhang
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Municipal Bond Insurance Premium, Credit Rating and Underlying Credit Risk

SSRN Electronic Journal, 2011
This article explores the question of whether bond insurers are able to sufficiently evaluate the credit risk of insured bonds, the answer to which would determine the future of municipal bond insurance. A sample of insured municipal bonds is investigated to determine whether bond insurance premia can predict the future credit rating transition, the ...
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The relationship between credit default swap spreads, bond yields, and credit rating announcements

Journal of Banking & Finance, 2004
A company’s credit default swap spread is the cost per annum for protection against a default by the company. In this paper we analyze data on credit default swap spreads collected by a credit derivatives broker. We first examine the relationship between credit default spreads and bond yields and reach conclusions on the benchmark risk-free rate used ...
Mirela Predescu, John C. Hull, Alan White   +2 more
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Rating-Based Restriction, Credit Rating Inflation and Bond Covenants - Evidence from Chinese Bond Market

SSRN Electronic Journal, 2018
This paper highlights the relation of two independent streams of the literature, the literature on bond covenants and literature on credit rating inflation and addresses how bond covenants are used to inflate bond ratings to comply with regulation on market access.
Zhongkuang Zhao, Wanfa Lin, Frank M. Song   +2 more
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Unsolicited Versus Solicited: Credit Ratings and Bond Yields

Journal of Financial Services Research, 2012
This paper is the first attempt to analyze Standard & Poor’s unsolicited and solicited ratings by using bond-yield data in Japan. Our findings show that there are differences in firm characteristics between firms seeking solicited ratings and those that receive unsolicited ratings.
Han, SH Han, SeungHun, Moore, WT Moore, William T., Shin, YS Shin, Yoon S., Yi, S Yi, Seongbaek   +3 more
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Bond Valuation and Credit Ratings

2004
A bond represents a legally binding obligation on the part of the issuer of the bond to pay interest on the bond on the stated coupon dates and at the coupon rates and to repay the principal on maturity. The majority of bonds that are issued by corporates pay a fixed rate of interest throughout their lives.
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Bond-Issuer Credit Rating with Grammatical Evolution

2004
This study examines the utility of Grammatical Evolution in modelling the corporate bond-issuer credit rating process, using information drawn from the financial statements of bond-issuing firms. Financial data, and the associated Standard & Poor’s issuer-credit ratings of 791 US firms, drawn from the year 1999/2000 are used to train and test the model.
Anthony Brabazon, Michael O’Neill
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Causality Relationship between Bond Ratings and Credit Spreads

SSRN Electronic Journal, 2012
The role of credit rating agencies has been questioned in the recent years. Existing empirical studies provide mixed evidence on the informational value of bond ratings for financial investors. In this study we examine the relationship between bond ratings and credit spreads for US corporate bonds using a Granger causality approach in panel data sets ...
Ortenca Kume, Charlie Weir
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Abstract--Municipal Bond Credit Ratings: A Suggested Methodology

The Journal of Financial and Quantitative Analysis, 1974
Municipal bond credit ratings are currently being created and distributed by two main rating agencies. Controversy has urrounded these ratings and their effects on interest costs to municipalities. This paper summarizes these controversies and presents a methodology which would enable a more objective appraisal of municipal credit quality.
Ronald Forbes, Alan Frankle, Arthur Hierl   +2 more
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