Credit rating agencies

Taking on the big boys

Sean Egan, co-founder of Egan-Jones Ratings, talks to Dalia Fahmy about his frustration at the restrictive structure of the credit rating industry and his plans to turn Egan-Jones into a serious contender to rival established players, Moody's, S&P and…

Cad text horrifies credit agencies

LONDON - Industry associations and rating agencies are concerned about the regulatory risk implications of new regulations on credit rating agencies inserted into the latest draft of the EU Cad, published in early July.

Market-implied ratings

There has been much debate over the respective merits of credit ratings and market-based indicators. Ludovic Breger, Lisa Goldberg and Oren Cheyette present a new approach that tries to incorporate the benefits of both approaches.

Market-implied ratings

There has been much debate over the respective merits of credit ratings and market-based indicators. Ludovic Breger, Lisa Goldberg and Oren Cheyette present a new approach that tries to incorporate the benefits of both approaches. Starting with agency…

Credit barrier models

Claudio Albanese, Giuseppe Campolieti, Oliver Chen and Andrei Zavidonov construct an analytic credit barrier model driven by credit ratings, constrained to fit the term structure of credit spreads

Berating the raters

Last year the rating agencies were slammed in certain quarters for reacting too slowly to market events; this year, there are complaints that the agencies have overcompensated by reacting too fast. So what level of responsiveness will satisfy the bond…

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…

Fitch Risk launches Credit Rating System

CreditVantage, the credit risk management division of Fitch Risk, has launched Credit Rating System (CRS), a suite of credit rating products designed to assist banks in implementing industry best practices in their credit analysis and capital allocation…

Meeting Basel II head on

Regulators are urging banks to update their rating methodologies in preparation for Basel II. Fitch Risk's Treeve Coomber thinks his new product will help to meet this challenge.

McDonough paints brave new world of bank regulation

Echoing remarks made earlier in the week, William McDonough, president of the New York Federal Reserve Bank, stressed that the results of the third Quantitative Impact Statement (QIS3) being compiled at the moment show that few changes will have to be…

BIS puts spotlight on credit risk transfer

In a report published today, the Bank for International Settlements (BIS) highlighted disclosure, concentration and the role of ratings agencies as key features of the credit risk transfer market that may need to be addressed with regulation.

A credit boost for traders

Clearing houses are emerging as a crucial function of energy trading exchanges. John Kennedy explains their importance in terms of a firm’s credit rating

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