The question of whether credit rating agencies (CRAs) influence financial markets has been widely debated. However …, making them endogenous, and financial markets anticipate CRAs’ announcements. In this paper, we follow a recent trend in … topics relevant for advanced economies, we study the impact of CRAs’ sovereign rating decisions on Mexican financial markets …

The ability of credit rating agencies (CRAs) to influence financial markets has been widely debated in the academic … employed the event study methodology, analyzing the behavior of financial markets around rating change announcements. Following … shocks to CRAs’ communication on financial markets. Applying this approach to Mexico, we find that CRAs’ communication about …

-country contagious rating effects of credit rating agencies' sovereign risk assessments. In particular, the specific impact of sovereign … one country affecting other financial markets within and across national borders. Such a potential (contagious) rating … financial markets of other emerging market economies although the spillover effects tend to be regional …

Do sovereign credit ratings take into account physical and transition climate risks? This paper empirically addresses … received comparatively lower ratings, suggesting that credit rating agencies are increasingly recognizing the significance of … in CO2 emission intensities are associated with higher ratings post-Paris Agreement, indicating that credit rating …

Credit rating agencies collapse high-dimensional borrower characteristics into summaries of creditworthiness … credit ratings across a wide array of borrower-country characteristics, training machine learning models to estimate ratings …, facilitating capital flows. But biases embedded in rating algorithms may lead to misallocation. We test for bias in sovereign …

This paper deals with the proposed use of sovereign credit ratings in the "Basel Accord on Capital Adequacy" (Basel II … on the lateness and cyclical determination of credit rating agencies' sovereign risk assessments and the continuing …

This study investigates the nonlinear relationship between public debt and sovereign credit ratings, using a wide …