Altdörfer, Marc
[Verfasser:in]
;
De las Salas Vega, Carlos
[Sonstige Person, Familie und Körperschaft];
Guettler, Andre
[Sonstige Person, Familie und Körperschaft];
Löffler, Gunter
[Sonstige Person, Familie und Körperschaft]
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 23, 2018 erstellt
Beschreibung:
We analyze whether different intensities of country ties to Europe affected the assignment of sovereign credit ratings during the Eurozone sovereign crisis. We find that Fitch, the rating agency among the “Big Three” with significantly stronger ties to Europe, was more reluctant than its two more US-tied peers to downgrade Eurozone countries during the crisis. The rating actions of Fitch were, however, largely ignored by the bond market. Our results thus cast doubt on the benefits of an often-suggested independent European credit rating agency