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While credit rating agencies use both forward-looking and historical information in evaluating a firm's credit risk, the role of forward-looking information in their rating decisions is not well understood. In

While credit rating agencies use both forward-looking and historical information in evaluating a firm's credit risk, the role of forward-looking information in their rating decisions is not well understood. In this study, I examine the association between management earnings guidance news and future credit rating changes. While upward earnings guidance is not informative for credit rating changes, downward earnings guidance is significantly and positively associated with both the likelihood and speed of rating downgrades.

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    Date Created
    • 2015
    Resource Type
  • Text
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    Note
    • Partial requirement for: Ph.D., Arizona State University, 2015
      Note type
      thesis
    • Includes bibliographical references (p. 42-45)
      Note type
      bibliography
    • Field of study: Accountancy

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    by An-Ping Lin

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