Afik, Zvika; Feinstein, Itai; Galil, Koresh - In: Journal of Financial Stability 14 (2014) C, pp. 66-80
This work examines the information value of local Israeli credit rating announcements. This matter is also important to other small markets, in which a debt issuer may take advantage of a “rating shopping” process or choose to avoid a rating procedure altogether, because the agencies do not...