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1. 1. Time Series Variation in Corporate Credit Rating Standards from 1986 to 2017

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Jason Gans; [2019]
   Keywords : Credit Rating Agencies; Ratings Conservatism; Standard Poor s;

   Abstract : The average rating of US Corporate debt has trended downward since the mid-80s. Existing research [Blume et al (1998), Baghai et al (2014)] argues that this trend was caused by an increase in conservatism on the part of rating agencies. When holding firm characteristics constant, ratings appear to deteriorate from the period between 1985 and 2007. READ MORE