Mohapatra, Sanket; Nose, Manabu; Ratha, Dilip K. - 2016
credit rating and sub-sovereign debt ratings. Over three-quarters of rated foreign-currency sub-sovereign bonds issued during … 1990–2013 in 47 emerging and developing countries were rated at or below the corresponding sovereign rating, thus … be rated closer to the sovereign rating during riskier global financial conditions. Well-developed domestic financial …