Structure Evolvement and Equilibrium Analysis of International Credit Rating Market
The purposes of this paper are (1) to introduce the process of structure evolvement of international credit rating market in chronological order, (2) to analyze S and P, Moody’s, and Fitch’s rating patterns and rating services, and (3) based on the content stated before, to conclude the characteristics of the evolvement of international credit rating market and analyze the cause of them. By using correlation analysis and statistical analysis we emphasized on doing research on the ratings released by S and P, Moody’s, and Fitch (the Big Three) in 5 rating categories, financial institutions, insurance companies, corporate bonds, asset-backed securities, and government securities and gave our own opinion for causes of the current monopoly by the Big Three in credit rating market.7.
KeywordsCredit rating The Big Three Monopoly
This work was done with great help from The Ministry of Education Research of Youth fund Projects on Humanities and Social Sciences of China (NO. 15YJC630122) and NUAA Graduate Base Innovation Open-End Fund (KFJJ20180911).
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