The demand for sovereign ratings in emerging economies has grown rapidly in recent years due to globalisation of financial markets, and investors' increasing focus on international diversification. This paper investigates the quantitative determinants of sovereign ratings in emerging markets...

This unique study employs a rich dataset of ratings from six international agencies to investigate the causes of sovereign split ratings in emerging countries. Three reasons are identified in explaining the relatively high frequency of disagreement across agencies on emerging sovereign ratings....

We investigate how split ratings influence the information content of credit rating events on the sovereign bond markets during 2000–2012. We find that market reactions are far stronger for negative events on the inferior ratings and for positive events on the superior ratings. Such evidence...

Sovereign credit rating actions have attracted considerable attention recently. This study employs a rich and unique data set of ratings from six international agencies to investigate the causes of split sovereign ratings in emerging countries. Three reasons are identified in explaining the...