Book extract > Regulatory Issues on Credit Ratings
The art (and some science) of credit rating has been in place, at least in the US, for almost a century now. In the Foreword we learned that credit rating as a process has its humble beginnings in the early 1900s in conjunction with theburgeoning market for the bonded debt financing of US railroads. As credit rating evolves into modern times, it has become inextricably linked to pricing, portfoliomanagement and capital adequacy, among other things. Hence, the credit rating process eventually has found a direct link with regulation and the oversight of financial institutions in general.
(Edited by Michael K. Ong) click here
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