How consistent are credit ratings?: a geographic and sectoral analysis of default risk

Front Cover
Board of Governors of the Federal Reserve System, 2000 - Credit ratings - 22 pages
0 Reviews
"We examine differences in default rates by sector and obligor domicile. We find evidence that credit ratings have been imperfectly calibrated across issuer sectors in the past. Controlling for year of issue and rating, default rates appear to be higher for U.S. financial firms than for U.S. industrial firms. Sectoral differences in recovery rates do not offset the higher default rates. By contrast, we do not find significant differences in default rates between U.S. and foreign firms"--Federal Reserve Board web site.

From inside the book

What people are saying - Write a review

We haven't found any reviews in the usual places.

Common terms and phrases

Bibliographic information