Eurozone sovereign downgrades increased corporate risk – ECB paper

Ratings changes for “core” eurozone countries had largest effects on corporate bonds

europe-iw

Downgrades to eurozone countries’ sovereign debt ratings affected credit risk for the bloc’s firms, a working paper published by the European Central Bank finds.

In It’s not time to make a change: sovereign fragility and the corporate credit risk, Fabio Fornari and Andrea Zaghini analyse sovereign and corporate bond data.

The authors look at all ratings downgrades by Fitch, Moody’s and Standard & Poor’s between 2006 and 2018 for eurozone countries. They argue that this sample is large enough

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.