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Determinants of Estonian sovereign credit rating [PDF]
, 2001 The paper focuses on sovereign credit ratings assigned to Estonia and analyses their possible determinants. The first chapter gives an overview of different rating agencies and the methodology they use in rating process. Besides that the interpretation, comparability and explanatory power of different ratings are analysed.
Andres Vesilind +2 more
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Politicians and sovereign credit ratings
SSRN Electronic Journal, 2020Using a unique hand collected sample of professional connections between finance ministers and the directors and top executives of the three largest credit rating agencies for 38 European sovereigns between January 2000 and November 2017, we show that professional connections result in higher sovereign ratings.
Patrycja Klusak +2 more
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Sovereign Ratings and Oil-Producing Countries: Have Sovereign Ratings Run Ahead of Fundamentals?
SSRN Electronic Journal, 2008We investigate whether rising oil prices have resulted in over-rating of oil-producing countries by rating agencies, after controlling for fundamentals. Based on a large dataset of countries from Standard and Poor's and Moody's, we find strong statistical evidence of a large ratings premium-nearly two notches-for those oil-producing countries with a ...
Robert V. Breunig, Tse Chern Chia
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Methodology for Assigning Credit Ratings to Sovereigns
2017Le placement des réserves de change ou d’autres portefeuilles d’actifs nécessite au préalable une évaluation de la qualité du crédit des contreparties aux opérations de placement. En règle générale, les gestionnaires d’actifs et de réserves de change recourent aux cotes de crédit attribuées par les agences de notation.
Muller, Philippe, Bourque, Jérôme
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Boom and Bust and Sovereign Ratings
International Finance, 1999The 1990s have witnessed pronounced boom–bust cycles in emerging‐markets lending, culminating in the Asian financial and currency crisis of 1997–8. By examining the links between sovereign credit ratings and dollar bond yield spreads over 1989–97, this paper aims at broad empirical content for judging whether the three leading rating agencies – Moody's,
Helmut Reisen, Julia Von Maltzan
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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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What Is the Value of Sovereign Ratings?
German Economic Review, 2014Abstract This article gives a fresh analysis of sovereign ratings, including the recent default of Greece. Section 1 studies the evolution of the sovereign rating business, and Section 2 explains how credit ratings are assigned. Section 3 focuses on sovereign rating methodologies and identifies the key determinants of sovereign ...
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Sovereign credit ratings [PDF]
, 2002 This paper describes sovereign credit ratings in emerging markets both for a specific year and over time, using quantitative explanatory variables. It turns out that rating adjustments have been worse than what economic fundamentals justify for some countries and also more frequently altered, questioning the long-term properties of sovereign ratings ...
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An analysis of the determinants of sovereign ratings
Global Finance Journal, 2005In recent years, the demand for sovereign ratings has increased mainly due to the inevitable globalisation of markets. This study analyses the quantitative determinants of sovereign ratings provided by the two main agencies, namely, Standard and Poors and Moody.
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