Badu, Yaw A.; Daniels, Kenneth N. - In: Studies in Economics and Finance 17 (1997) 2, pp. 81-97
The paper investigates the determinants of municipal bond ratings in Virginia using an ordered‐probit analysis. We find that economic factors are the key determinants of municipal bond ratings in the State. Our ordered‐probit model correctly predicts approximately 70% of the actual sample...
