Title: Reliability and Agreement of Credit Ratings in the Mexican Fixed Income Market
Abstract: Credit ratings play an important role in the fixed income market as the entire regulatory framework of this market segment is based on them and a significant part of what investors can and cannot do is dictated by ratings. Also, a number of ratings-based metrics are employed globally to estimate capital reserves, liquidity buffers, and solvency standards for many institutional investors such as insurance companies and pension funds. A critical assumption at the root of this regulatory architecture is that the credit-rating scales of the three leading agencies (Moody’s, Fitch, and Standard & Poor’s) are completely equivalent.
Publication Year: 2015
Publication Date: 2015-01-01
Language: en
Type: article
Indexed In: ['crossref']
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