n IMFO : Official Journal of the Institute of Municipal Finance Officers - The role of credit rating agencies in financial market development




Extracted from text ... 14 IMFO ? Spring 2006 Firstly I want to look at what a credit rating is and then how it is used in the financial markets. Rating definitions A credit rating is an opinion with a future focus on the ability and willingness of a debt issuer (a borrower) to repay its obligations in full and on time - shortly: it is an opinion on creditworthiness. The opinion is expressed through rating symbols and each symbol has its own definition. The rating symbols used by CA-Ratings are similar to those used by international rating agencies and are well known in ..


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