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A Bird’s-Eye View of the US Credit Rating Industry

Miles Livingston, Gina Nicolosi and Lei Zhou
The Journal of Fixed Income Fall 2021, 31 (2) 68-99; DOI: https://doi.org/10.3905/jfi.2021.1.120
Miles Livingston
is the Bank of America Professor in the Department of Finance, Insurance, and Real Estate in the Warrington College of Business at the University of Florida in Gainesville, FL
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Gina Nicolosi
is the chair of the Department of Finance in the College of Business at Northern Illinois University in DeKalb, IL
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Lei Zhou
is the Jones, Diedrich, and Mennie Professor in the Department of Finance in the College of Business at Northern Illinois University in DeKalb, IL
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Article Information

vol. 31 no. 2 68-99
DOI 
https://doi.org/10.3905/jfi.2021.1.120

Published By 
Pageant Media Ltd
Print ISSN 
1059-8596
Online ISSN 
2168-8648
History 
  • Published online October 1, 2021.

Article Versions

  • Latest version (July 23, 2021 - 20:24).
  • You are viewing the most recent version of this article.
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© 2021 Pageant Media Ltd

Author Information

  1. Miles Livingston
    1. is the Bank of America Professor in the Department of Finance, Insurance, and Real Estate in the Warrington College of Business at the University of Florida in Gainesville, FL. (miles.livingston{at}warrrington.ufl.edu)
  2. Gina Nicolosi
    1. is the chair of the Department of Finance in the College of Business at Northern Illinois University in DeKalb, IL. (gnicolos{at}niu.edu)
  3. Lei Zhou
    1. is the Jones, Diedrich, and Mennie Professor in the Department of Finance in the College of Business at Northern Illinois University in DeKalb, IL. (lzhou{at}niu.edu)
  1. To order reprints of this article, please contact David Rowe at d.rowe{at}pageantmedia.com or 646-891-2157.
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The Journal of Fixed Income: 31 (2)
The Journal of Fixed Income
Vol. 31, Issue 2
Fall 2021
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A Bird’s-Eye View of the US Credit Rating Industry
Miles Livingston, Gina Nicolosi, Lei Zhou
The Journal of Fixed Income Sep 2021, 31 (2) 68-99; DOI: 10.3905/jfi.2021.1.120

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A Bird’s-Eye View of the US Credit Rating Industry
Miles Livingston, Gina Nicolosi, Lei Zhou
The Journal of Fixed Income Sep 2021, 31 (2) 68-99; DOI: 10.3905/jfi.2021.1.120
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  • Article
    • Abstract
    • SEC-REQUIRED RATING TRANSITION AND DEFAULT MATRIX DISCLOSURES
    • CREDIT RATING MARKET AND COMPETITIVE LANDSCAPE
    • EMPIRICAL ANALYSES AND RATING TRANSITION MATRIX COMPARISONS
    • CONCLUSION
    • APPENDIX A
    • APPENDIX B
    • ENDNOTES
    • REFERENCES
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