cam a22 2 b4500 530156628 CHVBK 20201027045110.0 m d cr |n |||||||| 130723e20070401dcu s|||| 0 |eng|d 978-1-4519-1092-6 1-4519-1092-4 (EBook) : USD 18.00 Retail Price (Publisher) (SERSOL)ssj0001486840 (WaSeSS)ssj0001486840 BIP US WaSeSS Borensztein Eduardo Author Sovereign Ceilings Lite? the Impact of Sovereign Ratings on Corporate Ratings in Emerging Market Economies [Elektronische Daten] Washington International Monetary Fund April 2007 1 online resource (32 p.) Free full text available for some or all content. Article availability is subject to change without notice, according to publisher decision. Die Verfügbarkeit der Online-Ressourcen ist Entscheidung des Verlags oder des Urhebers und kann ohne vorherige Ankündigung geändert werden. Annotation Although credit rating agencies have gradually moved away from a policy of never rating a private borrower above the sovereign (the sovereign ceiling) it appears that sovereign ratings remain a significant determinant of the credit rating assigned to corporations. We examine this link using data for advanced and emerging economies over the past decade and conclude that the sovereign ratings have a significant and robust effect on private ratings even after controlling for country specific macroeconomic conditions and firm-level performance indicators. This suggests that public debt management affects the private sector through a channel that had not been previously recognized. Valenzuela Patricio Author Cowan Kevin Author http://elibrary.imf.org/view/IMF001/06357-9781451866391/06357-9781451866391/06357-9781451866391.xml Volltext frei zugänglich BK020053 XK020053 XK020000 IMF E-Library E-Books von 360MarcUpdates IDSBB FREE FREE OL NELFREE2004 IDSBB 100 1- Borensztein Eduardo Author IDSBB 700 1- Valenzuela Patricio Author IDSBB 700 1- Cowan Kevin Author IDSBB 856 40 http://elibrary.imf.org/view/IMF001/06357-9781451866391/06357-9781451866391/06357-9781451866391.xml Volltext frei zugänglich SWISSBIB 084903104