Ratings as Measure of Financial Risk: Evolution, Function and Usage

Alexandr Karminsky and Anatoly Peresetsky

Journal of the New Economic Association, 2009, issue 1-2, 86-102

Abstract: The rating agencies were emerged by the demand from market economy. Such agencies take the job of independent evaluation of the firms' financial strength, which allow firms decrease their expenses on their own market monitoring. It is extremely important with increasing number of potential business partners. The paper discusses history of rating business, methods of assigning ratings, rating classification, function and the directions of use.

Keywords: Ratings; rating agencies; risk evaluation (search for similar items in EconPapers)
JEL-codes: G21 G24 G32 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2009:i:1-2:p:86-102

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