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READING 64: EXTERNAL AND INTERNAL RATINGS #74

Open Grefer opened 4 years ago

Grefer commented 4 years ago

https://www.melonsblog.cn/2020/02/reading-64-external-and-internal-ratings.html#more

Grefer commented 4 years ago

External credit ratings scales indicate either the probability of default, the probability of loss, or both.

Grefer commented 4 years ago

There is a very strong increase of defaults over time for low-rated bonds. High-rated bonds tend to have much more stable rates of default over time.