| Titre : |
To what extent are Rating Agencies involved in the development of emerging countries? |
| Type de document : |
Mémoire |
| Auteurs : |
Sarha LAZAAR, Auteur |
| Année de publication : |
2021 |
| Importance : |
40 p. |
| Note générale : |
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| Langues : |
Anglais (eng) |
| Mots-clés : |
Management
ECONOMIE DE MARCHE ; OLIGOPOLE ; RESPONSABILITE CIVILE ; PAYS EN DEVELOPPEMENT
|
| Résumé : |
This paper examines the impact of the sovereign credit rating change announcement on Latin American emerging countries bond markets from 2010 to 2021. In line with academic studies, we found that the sovereign bonds returns are correlated to the changes in sovereign credit ratings and sovereign credit rating announcements. This paper establishes a clear dependence of Latin American emerging economies, more specifically the Mexican, Argentinian and Brazilian economies, to the opinion issued by Standard & Poor’s, one of the “Big Three”, it is to say the three main credit rating agencies (CRAs: Standard & Poor’s, Moody’s and Fitch). We find that bond markets respond to sovereign rating information in the way that Sovereign ratings and outlooks tend to be negatively related sovereign bond yield levels. Thus, the sovereign rating industry has the potential to attract the interest of economical agents into Latin American emerging markets through capital inflow but the more common in our case is that these CRAs also have the ability to dampen the capital inflow in case of negative outlook. |
| Programme : |
MSc Corporate Finance |
| Permalink : |
https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=538628 |
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To what extent are Rating Agencies involved in the development of emerging countries? / 2021 
