Credit rating agencies (CRAs) are expected to provide investors
with an informed and unbiased view on securities' debt risk; the
risk that issuers will fail to make promised interest or principal
payments when they are due. The agencies provide judgements on the
creditworthiness of bonds issued by a wide spectrum of entities,
including corporations, non-profit firms, special purpose entities,
sovereign nations and state and municipal governments. This book
explores the regulation and reform of credit rating agencies with a
focus on their performance and failures in recent years.
General
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