How Long to Read Rating Through-the-Cycle

How Long Does it Take to Read Rating Through-the-Cycle?

It takes the average reader and 30 minutes to read Rating Through-the-Cycle by John Kiff

Assuming a reading speed of 250 words per minute. Learn more

Description

Credit rating agencies face a difficult trade-off between delivering both accurate and stable ratings. In particular, its users have consistently expressed a preference for rating stability, driven by the transactions costs induced by trading when ratings change frequently. Rating agencies generally assign ratings on a through-the-cycle basis whereas banks' internal valuations are often based on a point-in-time performance, that is they are related to the current value of the rated entity's or instrument's underlying assets. This paper compares the two approaches and assesses their impact on rating stability and accuracy. We find that while through-the-cycle ratings are initially more stable, they are prone to rating cliff effects and also suffer from inferior performance in predicting future defaults. This is because they are typically smooth and delay rating changes. Using a through-the-crisis methodology that uses a more stringent stress test goes halfway toward mitigating cliff effects, but is still prone to discretionary rating change delays.

How long is Rating Through-the-Cycle?

Rating Through-the-Cycle by John Kiff is 29 pages long, and a total of 7,511 words.

This makes it 10% the length of the average book. It also has 9% more words than the average book.

How Long Does it Take to Read Rating Through-the-Cycle Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 41 minutes to read Rating Through-the-Cycle aloud.

What Reading Level is Rating Through-the-Cycle?

Rating Through-the-Cycle is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Rating Through-the-Cycle?

Rating Through-the-Cycle by John Kiff is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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