The Effect Of Sovereign Credit Rating Announcements On ...
The rating changes are those reported by Moody’s, Standard and Poor’s and Fitch IBCA, for the period 1998-2006. For all countries in the sample the yield spread is calculated as the difference between the 10-year global dollar-denominated bonds yield in these countries and the benchmark yield (the yield of 10-year U.S. Treasury bonds). ................
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