The ghost of a rating downgrade : what happens to borrowing costs when a government loses its investment grade credit rating? (English)

Since the global financial crisis and the end of the commodity super-cycle, weak growth and countercyclical fiscal policy have contributed to deteriorating public finances in many countries across the globe. As public debt burdens rose, credit ratings deteriorated and a number of countries have been downgraded from investment to sub-investment ('junk') grade. Rating downgrades continue to haunt countries in a world of low growth. This paper examines...

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Author

Hanusch,Marek;

Hassan,Shakill;

Algu,Yashvir;

Soobyah,Luchelle;

Kranz,Alexander;
Document Date
2016/06/28
Document Type
Working Paper
Report Number
106667
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2016/07/04
Disclosure Status
Disclosed
Doc Name
The ghost of a rating downgrade : what happens to borrowing costs when a government loses its investment grade credit rating?
Keywords
local currency rating

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Citation

Hanusch,Marek; Hassan,Shakill; Algu,Yashvir; Soobyah,Luchelle; Kranz,Alexander.

The ghost of a rating downgrade : what happens to borrowing costs when a government loses its investment grade credit rating? (English). Macroeconomics and Fiscal Management (MFM) discussion paper|no. 13 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/241491467703596379

The ghost of a rating downgrade : what happens to borrowing costs when a government loses its investment grade credit rating? (English)

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