"Drowning Out 'Whisper Ratings' "- A Short Research Article for University of Miami

"Drowning Out 'Whisper Ratings' "- A Short Research Article for University of Miami

By Rochelle Broder-Singer 

When a firm wants to issue a security – say, a bond or a bunch of mortgages packed together – it hires a credit rating agency to review the underlying assets and give the security a credit rating. Investors use the rating to make decisions about whether, and how much, to invest.

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