Since the onset of the eurozone sovereign debt crisis, credit risk spreads in Europe have diverged. Despite this … divergence, credit risk comoves strongly within certain country groups such as the eurozone periphery. We seek to answer what the … eurozone countries during the sovereign debt crisis. We find strong evidence for both fundamentals and nonfundamentals based …

during the Eurozone sovereign crisis. We find that Fitch, the rating agency among the “Big Three” with significantly stronger … ties to Europe, was more reluctant than its two more US-tied peers to downgrade Eurozone countries during the crisis. The …

the assignment of sovereign credit ratings, using the Eurozone sovereign debt crisis of 2009-2012 as a natural laboratory … two more US-tied peers, assigned on average more favourable ratings to Eurozone issuers during the crisis. However, Fitch …'s better ratings for Eurozone issuers seem to be neglected by investors as they rather follow the rating actions of Moody's and …

This paper analyzes market integration among long term government bonds in the Eurozone since the inception of the Euro …