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When things go wrong, it is always good to find someone to blame. As the credit crisis started to unfold in 2007, credit rating agencies (“CRAs”) emerged as the villain – or scapegoat, one might say – for commentators and regulators alike. To sum up, observers accused CRAs of doing a...
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Major U.S. credit rating agencies are criticized for failing to understand developments in other economies and thereby impeding capital access by assigning lower ratings. Consistent with this, we find that Moody's and S\&P credit ratings are more favorable after the agencies establish a local...
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paper analyses the quantitative determinants of bank ratings, provided by Standard & Poor's, Moody's, and Fitch in the …, capital adequacy and operating performance are the key determinants of bank ratings across the rating agencies. However …, macroeconomic variables and market risk factors do not seem to be contributing factors in explaining bank ratings in either country …
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