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What Is the Value of Sovereign Ratings?

Author

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  • Gaillard Norbert

    (NG Consulting, Liberec, Czech Republic)

Abstract

This article gives a fresh analysis of sovereign ratings, including the recent default of Greece. Section 1 studies the evolution of the sovereign rating business, and Section 2 explains how credit ratings are assigned. Section 3 focuses on sovereign rating methodologies and identifies the key determinants of sovereign ratings. Section 4 measures the accuracy of these ratings between 1 January 2001 and 1 January 2013. Section 5 compares credit ratings to market-based indicators, and Section 6 concludes.

Suggested Citation

  • Gaillard Norbert, 2014. "What Is the Value of Sovereign Ratings?," German Economic Review, De Gruyter, vol. 15(1), pages 208-224, February.
    • Handle: RePEc:bpj:germec:v:15:y:2014:i:1:p:208-224
    DOI: 10.1111/geer.12018
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