Abidi, Nordine; Falagiarda, Matteo; Miquel-Flores, Ixart - 2019
This paper investigates the behaviour of credit rating agencies (CRAs) using a natural experiment in monetary policy …. Specifically, we exploit the corporate QE of the Eurosystem and its rating-based specific design which generates exogenous variation …, rating upgrades were mostly noticeable for bonds initially located below, but close to, the eligibility frontier. In line …