Practical analysis for investment professionals
credit ratings
The Fitch Downgrade: The Principal–Agent Problem in Modern Finance
Fitch Ratings' US credit downgrade highlights a latent principal–agent problem in modern financial markets: Investors have outsourced much of their risk management to the rating agencies.
More Than Just Oil: Saudi Arabia’s Improved Credit Rating
Contrary to the popular narrative, oil isn't all that matters to the Saudi economy.
ESG Ratings: Navigating Through the Haze
How severe is the lack of correlation among ESG ratings?
Over-Rated: Do Fund Asset Classifications Tell the Whole Liquidity Story?
Investors and advisers need to broaden and deepen their levels of analysis to get a better handle on liquidity risks. They may be drawn to the apparent certainty of putting funds into a small number of boxes, buckets, or categories, but this may prove to be a false comfort.