Credit rating agencies: what are the alternatives for energy markets?

Beyond the big three

Three wise monkeys

The 2008 financial crisis sullied the reputations of many high-flying banks and once-venerable institutions. But few firms were dragged through the mud quite as much as the ‘big three’ rating agencies. Standard & Poor’s (S&P), Moody’s Investors Service and Fitch came under fierce criticism for missing the boat on the bankruptcy of Lehman Brothers and for slapping AAA ratings on dubious mortgage-backed securities that collapsed like a house of cards once the US housing bubbled popped. Hauled

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Credit risk & modelling – Special report 2021

This Risk special report provides an insight on the challenges facing banks in measuring and mitigating credit risk in the current environment, and the strategies they are deploying to adapt to a more stringent regulatory approach.

The wild world of credit models

The Covid-19 pandemic has induced a kind of schizophrenia in loan-loss models. When the pandemic hit, banks overprovisioned for credit losses on the assumption that the economy would head south. But when government stimulus packages put wads of cash in…

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