Poon, Winnie P. H.; Chan, Kam C. - Asian Development Bank Institute, Asian Development Bank - 2010
opportunities and debt levels of the firm. The credit rating is positively related to the sovereign rating, size, and profitability …-selection bias in credit ratings. Our findings suggest that the firms with solicited ratings seem to be more profitable, more liquid …We conducted a global study of the long-term issuer ratings of nonfinancial firms from Standard and Poor's Ratings …