文章基本信息

标题：RECOVERY RATINGS IN THE EVENT OF SOVEREIGN DEFAULT ISSUERS. AN INVESTIGATION ON THE FACTORS WHICH INFLUENCE THEIR CALCULATION BY STANDARD & POOR’S
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作者：Miricescu, Emilian
期刊名称：Theoretical and Applied Economics
印刷版ISSN：1841-8678
电子版ISSN：1844-0029
出版年度：2008
卷号：11(528)(supplement)
期号：11(528)(supplement)
页码：93-99
出版社：Asociatia Generala a Economistilor din Romania - AGER
摘要：Recent events have shown that sovereign bonds issuers can be in default. In this situation, the amounts of money are very high and there are few measures that can be taken into account against them. For this reason, the participants on the international financial market have asked the rating agencies to estimate a probability which indicate the debts recovery. This paper focuses on recovery ratings assigned by Standard & Poor’s and Fitch to the sovereign speculative issuers. We will use the discriminant analysis to decide whether six quantitative factors are significantly influencing the recovery rating.
关键词：recovery rating; bonds; financial market; informational asymmetry; discriminant analysis.