Credit Rating Agencies: the Importance of Fundamentals in the Assessment of Sovereign Ratings (original) (raw)
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On sovereign ratings: observations and implications
, as much of this note draws on that body of work. I would also like to thank John Chambers (S&P) and Mauro Leos (Moody's) and my IDB colleagues Ed Bartholemew, Eduardo Borensztein and my ex colleague Ugo Panizza for useful discussions on ratings, as well as the participants in the Sovereign Risk Seminar, held at the BIS January 8/9 2013 and particularly Bob McCauley at the BIS for his helpful and constructive suggestions. Remaining mistakes however are my own. All the opinions expressed are solely my own and do not necessarily reflect those of the Inter-American Development Bank, those of its Board of Directors, or those of the countries they represent.