The Credit Rating Agencies – Significance, Performance and Perspectives

PhD Assoc. Prof. Dimitar Rafailov ()
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PhD Assoc. Prof. Dimitar Rafailov: University of Economics - Varna

An Annual Book of University of Economics - Varna, 2021, vol. 91, issue 1, 153-202

Abstract: Credit rating agencies are a key component of the financial infrastructure. This study examines trends in the activities of rating agencies after the past global financial crisis. It argues the essential importance of agencies for the functioning of credit markets, outlines the flaws that have emerged and discusses measures to overcome them. The analysis of credit rating agencies’ performance over the last decade found improvement in rating accuracy. The study propose directions for increasing the information content of ratings through changes in regulations and digitalization.

Keywords: rating agencies; credit ratings; regulation (search for similar items in EconPapers)
JEL-codes: G24 G28 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:yrbook:y:2021:i:1:p:153-202

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