This paper provides evidence of ratings shopping in the corporate bond market. By estimating systematic differences in … issuers often delay less favorable ratings until after a bond is sold. Consistent with theoretical models of ratings shopping …, these effects are strongest among more complex bonds that are more difficult to rate. Bonds with upward-biased ratings are …

how rating agencies assign credit ratings to mortgage-backed securities, and outline how these agencies monitor the …

Rating agencies report ordinal ratings in discrete classes . We question the market's implicit assumption that agencies …, and hence enables a rating-class specific re-mapping of one agency's ratings to another's. Our method is based purely on … ordinal co-ratings to obviate error-prone estimation of default probabilities and the di sputable assumptions involved in …

examines how rating agencies assess MDB ratings, focusing in particular on how Standard & Poor's assesses capital as part of … its MDB rating process. The results are compared with those implied by an industry-standard, ratings-based Credit Risk …

We investigate the effect of credit analyst rotation in the context of long-term ratings of S&P 500 issuers between …

This paper examines the issues of the aggregation and comparison of the credit ratings of various economic agents for … assessment of credit risks based on the constructed system of aggregating credit ratings for industrial companies and commercial … banks. The work also confirms the relationship between the level of assigned credit ratings and the various phases of the …