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The Price Impact of Sovereign Rating Announcements

In: Emerging Markets and Sovereign Risk

Author

Listed:
  • Albert Metz
  • Merxe Tudela

Abstract

The impact of credit ratings on financial markets has gathered new interest in the wake of the European sovereign debt crisis. Some have suggested that credit rating agencies (CRAs) amplify contagious effects and create additional financial instability,1 a charge which of course is at odds with another frequent complaint that rating agencies respond too slowly to new information and lag markets.2 The current crisis has prompted some calls to limit the freedom of action of CRAs at least in the sovereign markets.3

Suggested Citation

  • Albert Metz & Merxe Tudela, 2015. "The Price Impact of Sovereign Rating Announcements," Palgrave Macmillan Books, in: Nigel Finch (ed.), Emerging Markets and Sovereign Risk, chapter 15, pages 275-292, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-45066-1_15
    DOI: 10.1057/9781137450661_15
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    Cited by:

    1. Camille Baulant & Nivine Albouz, 2021. "Has financial globalization since 1990 reduced income inequality: the role of rating announcements on the volatility and the returns of the Brazilian Financial Market [Les annonces de notation souv," Working Papers hal-03258994, HAL.

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