Güttler, André - In: Financial Markets and Portfolio Management 19 (2005) 3, pp. 277-295
This paper compares the accuracy of credit ratings of Moody's and Standard and Poor's. Based on 11,428 issuer ratings and 350 defaults in several datasets from 1999 to 2003 a slight advantage for the rating system of Moody's is detected. Compared to former research, the robustness of the results...