The Ratings Game

ISBN-13: 9780471491347 / Angielski / Twarda / 2001 / 284 str.

Andrew Fight

Opis

Investors and ratings agencies have been caught by surprise by the wave of recent bank failures and closures in Europe and Asia that have needed large scale government bailouts. This book addresses this issue by explaining why ratings exist, the history of ratings and the background of the ratings process. The process is inherent with problems and these are identified and discussed, in addition the book covers the contemporary issues and controversies surrounding the subject.

Recenzje

"The book deals admirably with these problems, explaining the debates involved and detailing ratings companies′ excuses with the right level of cynicism." ( Investment Adviser, 19th February 2001)

"...This is a comprehensive guide to ratings agencies." (Portfolio International, February 2001)

Spis treści

Preface.

The World of Ratings.

The Rating Agencies.

Methodologies and Characteristics.

Rating Agencies in the Economic Environment.

Quis Custodiet Ipsos Custodes.

The Future.

Glossary.

Sources.

Index.

O autorze

ANDREW FIGHT is a senior consultant with the CFPB – French Bankers Training Institution. He is also the author of nine books and training manuals on banking related matters. Andrew Fight has 15 years experience with various banks, central banks and consulting firms as a financial analyst, consultant and writer in international banking. His career included direct ratings experience with IBCA.

Blurb

What are credit rating agencies? Many people paying for ratings and ratings reports do not fully understand what they are buying and how these agencies really work. Ratings agencies wield immense power over the fate of individual corporations, countries, and whole economies, yet their workings are remarkably opaque. Many events over the past decade, such as the Asian crisis and the demise of certain financial institutions have highlighted some of the limitations of ratings agencies, and raised questions as to their accountability and the level of service they provide.
In this comprehensive account of the workings of the rating agencies,Andrew Fight explains the role played by ratings agencies, how ratings are obtained, the methodologies through which organisations are assessed and the wider consequences of these decisions.