Duration and Rating Premia in Investment Grade Municipal Bonds
How much difference do ratings make?
In forthcoming work, Albert Pinto and I will propose that Congress create an independent public ratings agency — an FDA — for green finance. As of writing, the business of project assessment and rating classification for green finance is in private hands led by BlackRock. This is a recipe for trouble because private credit ratings are coupled to the fin…
Keep reading with a 7-day free trial
Subscribe to Policy Tensor to keep reading this post and get 7 days of free access to the full post archives.