Читать книгу The Sterling Bonds and Fixed Income Handbook - Mark Glowrey - Страница 43

Credit ratings and their interpretations are covered earlier in the chapter and it is fair to say that these ratings should be the first port of call. The credit rating agencies are far from perfect but their opinion is generally valid, and, more importantly, their opinion will be closely followed by institutional investors.

Tip

Look out for the momentum of upgrades and downgrades. Re-ratings often come in series, and a drop from single-A to triple-B may not be the end of the story.