Costs of the Municipal Bond Rating System

2016 ◽  
Author(s):  
Marc D. Joffe
Keyword(s):  
Rating System ◽  
Municipal Bond ◽  
Bond Rating ◽  
Municipal Bond Rating

Municipal Bond Rating Testimony

1968 ◽  
Vol 24 (3) ◽  
pp. 59-65 ◽  
Author(s):  
Roy M. Goodman
Keyword(s):  
Municipal Bond ◽  
Bond Rating ◽  
Municipal Bond Rating

IMPROVED TECHNIQUES IN MUNICIPAL BOND RATING ANALYSIS

1980 ◽  
Vol 15 (4) ◽  
pp. 78-78
Author(s):  
Duane Stock ◽  
Terry Robertson
Keyword(s):  
Municipal Bond ◽  
Bond Rating ◽  
Municipal Bond Rating

Municipal bond rating analysis

1993 ◽  
Vol 23 (1) ◽  
pp. 29-50 ◽  
Author(s):  
Choon-Geol moon ◽  
Janet G. Stotsky
Keyword(s):  
Municipal Bond ◽  
Bond Rating ◽  
Municipal Bond Rating

What Is in a Municipal Bond Rating?

1990 ◽  
Vol 25 (1) ◽  
pp. 25-53 ◽  
Author(s):  
Anthony L. Loviscek ◽  
Frederick D. Crowley
Keyword(s):  
Municipal Bond ◽  
Bond Rating ◽  
Municipal Bond Rating

The Information Content of Municipal Bond Rating Changes: A Note

1983 ◽  
Vol 38 (3) ◽  
pp. 997-1003 ◽  
Author(s):  
ROBERT W. INGRAM ◽  
LEROY D. BROOKS ◽  
RONALD M. COPELAND
Keyword(s):  
Information Content ◽  
Municipal Bond ◽  
Bond Rating ◽  
Rating Changes ◽  
Municipal Bond Rating

Reading risk: The practices, limits and politics of municipal bond rating

2019 ◽  
Vol 52 (3) ◽  
pp. 611-631 ◽  
Author(s):  
Mikael Omstedt
Keyword(s):  
Political Economy ◽  
Local Governments ◽  
Urban Politics ◽  
Rating Scale ◽  
Local Politics ◽  
Municipal Bond ◽  
Local Policy ◽  
Bond Rating ◽  
Urban Political Economy ◽  
Municipal Bond Rating

This article contributes to the growing literature on the relationship between local governments and financial markets by demystifying the municipal bond rating process. Since the Great Recession, the dynamics of municipal debt have moved to the forefront of American urban politics and the pursuit of high bond ratings has become a key mechanism constraining local policy autonomy. However, we know little about the actual practices of the rating agencies. Drawing on interviews conducted within these organizations, the article examines the criteria, processes and organizational practices that produce ratings. In conversation with calls for bridging the divide between political economy and techno-cultural approaches to markets, the paper shows how bond rating is structured by an ever-present tension between the need to understand localized investment risk in all its place-specific complexity while striving to fit that risk within the standardized grid of the rating scale. Further, the analysis highlights the imperative of budget flexibility through which indebted local governments are pushed into self-disciplining of their finances. As such, the article unpacks a particularly opaque area of local politics and furthers ongoing conversations between financial geography and urban political economy.

ALTERNATIVE METHOD FOR DETERMINING INDUSTRIAL BOND RATINGS: THEORY AND EMPIRICAL EVIDENCE

2012 ◽  
Vol 11 (06) ◽  
pp. 1215-1235 ◽  
Author(s):  
LIE-JANE KAO ◽  
CHENG-FEW LEE
Keyword(s):  
Credit Scoring ◽  
Rating System ◽  
Programming Technique ◽  
Bond Ratings ◽  
Bond Rating ◽  
Financial Ratio ◽  
Scoring Model ◽  
Conflicting Objectives ◽  
Fisher’S Discriminant Analysis ◽  
Credit Scoring Model

The financial-ratio-based credit-scoring model for bond rating system requires the maximization of two conflicting objectives (i.e., the explanatory and discriminatory power, simultaneously), which had not been directly addressed in literature. The main purpose of this study is to develop a hybrid multivariate credit-scoring model that combines the principle component analysis and Fisher's discriminant analysis using the MINIMAX goal programming technique so that the maximization of the two conflicting objectives can be compromised. The performance of alternative credit-scoring models is analyzed and compared using dataset from previous studies. We find that the proposed hybrid credit-scoring model outperforms other alternative models in both explanatory and discriminatory powers.

BOND RATING DISCREPANCIES AND MUNICIPAL BOND YIELDS

1986 ◽  
Vol 21 (3) ◽  
pp. 56-56
Author(s):  
Pu Liu ◽  
Larry G. Perry ◽  
Dorla A. Evans
Keyword(s):  
Municipal Bond ◽  
Bond Yields ◽  
Bond Rating

Activity and Bond Rating in the Negotiated Municipal Bond Market

1988 ◽  
Vol 17 (4) ◽  
pp. 12
Author(s):  
Peyton Foster Roden
Keyword(s):  
Bond Market ◽  
Municipal Bond ◽  
Bond Rating
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