Determinants and Impact of Sovereign Credit Ratings

@inproceedings{Cantor1996DeterminantsAI,
  title={Determinants and Impact of Sovereign Credit Ratings},
  author={Richard Cantor and Frank Packer},
  year={1996}
}
n recent years, the demand for sovereign credit rat-ings—the risk assessments assigned by the credit rating agencies to the obligations of central govern-ments—has increased dramatically. More governments with greater default risk and more companies domiciled in riskier host countries are borrowing in international bond markets. Although foreign government officials generally cooperate with the agencies, rating assignments that are lower than anticipated often prompt issuers to question the… CONTINUE READING
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