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 …. About 11 to 26 percent of the bonds had ratings higher than the sovereign rating, which was achieved mainly through …This paper explores bond-level, issuer-level, and macro-level conditions that affect the distance between sovereign …