What effect will the new legislation likely have on the market share of the largest rating agencies?
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Assessing default risk requires an evaluation of creditworthiness. Most investors have neither the time nor the expertise to do their own credit appraisals for potential bond investments, so they rely on credit-rating agencies for this service. But how reliable are their ratings?
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Related Book For
Principles of managerial finance
ISBN: 978-0132479547
12th edition
Authors: Lawrence J Gitman, Chad J Zutter
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