According to Lave Cross, Agency ratings indicate relative levels of risk instead of absolute levels of risk.

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According to Lave Cross, "Agency ratings indicate relative levels of risk instead of absolute levels of risk." Explain the meaning of Lave's statement.

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Fundamentals of Investments

ISBN: 978-0132926171

3rd edition

Authors: Gordon J. Alexander, William F. Sharpe, Jeffery V. Bailey

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Question Posted: Mar 16, 2016 02:59 AM

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According to Lave Cross, Agency ratings indicate relative levels of risk instead of absolute levels of risk.

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Agency ratings indicate whether a bond issuer is more or less likely to default relati...View the full answer

Fundamentals of Investments

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