Given the economic tumult in China, we thought it would be worthwhile to get some perspective from that nation’s largest independent credit rating agency –… Read More »A Critical Review of Dagong’s Rating Methodology
In its settlement with the Department of Justice, S&P has backed off its assertion that the federal lawsuit was filed in retaliation for its 2011… Read More »S&P Settles: Now How About that US Bond Rating?
On January 21, S&P settled a number of complaints with the Securities and Exchange Commission as well as two states’ attorneys general. The issues primarily… Read More »SEC Shines a Light on Inflated CMBS Ratings
This article summarizes the book “When Sovereigns Go Bankrupt” (Gaillard 2014), which provides a fresh analysis of how to cope with sovereign risk in the… Read More »When Sovereigns Go Bankrupt
Credit rating agencies have historically failed to anticipate the public debt crises in rich countries. This Wikirating blog article describes how Moody’s sovereign rating methodology… Read More »How Moody’s has drawn the lessons from the Eurozone debt crisis
This column explains how and why sovereign ratings and bond yields failed to anticipate the Eurozone debt crisis. It also argues that, paradoxically, sovereign ratings… Read More »Eurozone, Sovereign Ratings and Bond Yields
The sovereign and municipal debt crisis of the early 2010s is finished. Overblown predictions of a credit meltdown among European sovereigns, US states and cities,… Read More »Government Credit Crisis Over – So Where are the Upgrades
Regulation (EU) no. 462/2013 of the European Parliament and of the Council of 21 May 2013 requires credit rating agencies to publish a calendar of… Read More »Is the Eurozone Debt Crisis Over? The View from Moody’s
Wikirating is publishing two letters and one e-mail in which I map risks to an asset-backed security (ABS) when the issuer is party to a… Read More »Entire Financial System Needs Commonsense Review of Derivative Contracts: Let’s Start with ABS
Since the 2008 financial crisis, regulators, policymakers and the “too big to fail” (TBTF) banks around the world have been developing new ways to resolve… Read More »Understanding CoCo Bonds: A New Source of Systemic Risk