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Bridge over ocean
1 November 1991 Research Foundation

Corporate Bond Rating Drift: An Examination of Credit Quality Rating Changes Over Time

  1. Edward I. Altman
  2. Duen Li Kao

In documenting and discussing the ten-year experience of all new issues between 1970 and 1989, this monograph explores rating changes for different economic sectors.

Corporate Bond Rating Drift: An Examination of Credit Quality Rating Changes Over Time View the full book (PDF)

In documenting and discussing the ten-year experience of all new issues between 1970 and 1989, this monograph explores rating changes for different economic sectors. The findings should prove useful to investors, analysts, and insurers involved in the growing market for collateralized bond obligations and highly leveraged loan obligations.