Screen LibraryThe rating agencies and their credit ratings : what they are, how they work and why they are relevant /
Credit rating agencies play a critical role in capital markets, guiding the asset allocation of institutional investors as private capital moves freely around the world in search of the best trade-off between risk and return. However, they have also been strongly criticised for failing to spot the A...
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| Main Authors: | |
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| Corporate Authors: | |
| Group Author: | |
| Published: |
Wiley,
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| Publisher Address: | Chichester, England ; Hoboken, N.J. : |
| Publication Dates: | 2008. |
| Literature type: | eBook |
| Language: | English |
| Series: |
Wiley finance series
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| Subjects: | |
| Online Access: |
http://onlinelibrary.wiley.com/book/10.1002/9781119208785 |
| Summary: |
Credit rating agencies play a critical role in capital markets, guiding the asset allocation of institutional investors as private capital moves freely around the world in search of the best trade-off between risk and return. However, they have also been strongly criticised for failing to spot the Asian crisis in the early 1990s, the Enron, WorldCom and Parmalat collapses in the early 2000s and finally for their ratings of subprime-related structured finance instruments and their role in the current financial crisis. This book is a guide to ratings, the ratings industry and the mechanics and |
| Carrier Form: | 1 online resource (xiv, 510 pages) : illustrations. |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: |
9781119208785 1119208785 9780470714355 0470714352 |
| Index Number: | HG3751 |
| CLC: | F830.5 |
| Contents: | ForewordPreface1 Introduction1.1 Context and Premises1.2 Book Chapters1.3 Supporting MaterialsPART A: CREDIT RATING FOUNDATIONS2 Credit Ratings2.1 The World of Corporate Defaults2.2 Credit Rating Scales2.3 The Interpretation of Credit Ratings2.4 Credit Ratings: Summary and Conclusions3 The 'Raison d'Etre' of Credit Ratings and Their Market3.1 Needs for Credit Ratings -- or the Demand Side of Ratings3.2 Credit Ratings as a Solution to Information Asymmetry: Economic Analysis. 3.3 Credit Rating Segments -- or Scale and Scope of the Rated Universe. 4 How to Obtain and Maintain a Credit Rating4. |