Credit Rating Agencies' Liabilities: A Comparative and Functional Study

Credit ratings provide assessments of the creditworthiness of an issuer or a financial instrument. As a benchmark for the regulatory minimum capital requirements of banks they take a gatekeeper role in corporate finance. The global financial crisis of 2008 revealed severe failures and lead to a significant tightening of regulation and oversight. The present volume on credit rating agencies' liabilities is the product of a cross-country study conducted under the auspices of the International Academy of Comparative Law. It examines the law and policy of 18 jurisdictions, including the EU. The volume is an indispensable guide to credit rating agencies' liabilities for legal practice, regulation and academia.