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Understanding the determinants of sovereign debt ratings: evidence for the two leading agencies
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Autores
Orientador(es)
Resumo(s)
An analysis of the possible determinants of sovereign
credit ratings assigned by the two leading credit rating
agencies, Moody's and Standard and Poor's, is conducted in
this paper by using linear, logistic, and exponential transformations
of the rating scales. Of the large number of
variables that can be used, the set of explanatory variables
selected in this study is significant in explaining the credit
ratings. Namely, six variables appear to be the most relevant
to determining a country's credit rating: GDP per capita,
external debt, level of economic development, default history,
real growth rate, and inflation rate.
Descrição
Palavras-chave
Credit Ratings Moody's and Standard and Poor's GDP per Capita External Debt Economic Development Inflation Rate
Contexto Educativo
Citação
Afonso, António .2003. “Understanding the determinants of sovereign debt ratings: evidence for the two leading agencies”. Journal of Economics and Finance, Vol. 27, No. 1: pp. 56-74.
Editora
Springer