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Institutional Environment and Sovereign Credit Ratings
SSRN Electronic Journal, 2006We use a sample of 86 counties to examine the cross-sectional determinants of sovereign credit ratings. We find that the quality of a country's legal and political institutions plays a vital role in determining these ratings. A one-standard-deviation increase in our legal environment index results in an average credit rating increase of 0.466 standard ...
Alexander W. Butler, Larry Fauver
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1995
Sovereign ratings are gaining importance as more governments with greater default risk borrow in international bond markets. But while the ratings have proved useful to governments seeking market access, the difficulty of assessing sovereign risk has led to agency disagreements and public controversy over specific rating assignments.
Richard Cantor, Frank Packer
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Sovereign ratings are gaining importance as more governments with greater default risk borrow in international bond markets. But while the ratings have proved useful to governments seeking market access, the difficulty of assessing sovereign risk has led to agency disagreements and public controversy over specific rating assignments.
Richard Cantor, Frank Packer
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Statistical Properties of Sovereign Credit Ratings
SSRN Electronic Journal, 2001The sovereign credit rating is a key determinant of the cost and availability of international financing for an economy. This paper models ratings as a function of expected repayment capacity, derives testable hypotheses, and conducts a statistical analysis based of the ratings awarded by Institutional Investor.
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Sovereign Credit Ratings under Fiscal Uncertainty
SSRN Electronic Journal, 2018This paper studies the response of credit rating agencies to an increase in uncertainty about a government's fiscal position. To that end, a measure of the uncertainty around official forecasts of the public budget deficit is constructed that is comparable across time and a range of advanced economies.
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Understanding Sovereign Credit Ratings: Text-Based Evidence From the Credit Rating Reports
SSRN Electronic Journal, 2019In this paper we apply a novel approach to identifying the qualitative judgement of the rating committee in sovereign credit ratings. We extend the traditional regression with new measures - sentiment and subjectivity scores - obtained by textual sentiment analysis methods.
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Determinants of sovereign credit rating and credit rating agencies faults
Sarajevo business and economics review, 2014Credit rating agencies are prominent actors on world financial market, as they make decisions on country’s credit rating which determines general investment climate and influences economic progress and general economic stability of a country. The aim of this paper is to determine key factors in defining country’s credit rating in the period before ...
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African Sovereign Credit Ratings
Africa Research Bulletin: Economic, Financial and Technical Series, 2007openaire +1 more source
GRADE guidelines: 3. Rating the quality of evidence
Journal of Clinical Epidemiology, 2011Holger J Schünemann +2 more
exaly