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Suppose recent regulatory reforms relating to credit rating agencies are perceived to improve the reliability and accuracy of credit ratings of corporate bonds. Imagine further

Suppose recent regulatory reforms relating to credit rating agencies are perceived to improve the reliability and accuracy of credit ratings of corporate bonds. Imagine further that you manage a corporation interested in issuing new bonds, in addition to past issues by the firm that already trade in the market. Identify one way in which your firm might lose and one way in which it might gain from these reforms. Explain your answer.

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