An Empirical Analysis of Municipal Bond Ratings in Virginia
Studies in Economics and Finance 1997
Posted: 21 May 2020
Date Written: 1997
Abstract
The paper investigates the determinants of municipal bond ratings in Virginia using an ordered‐probit analysis. We find that economic factors are the key determinants of municipal bond ratings in the State. Our ordered‐probit model correctly predicts approximately 70% of the actual sample which is not subject to sample selection bias.
Keywords: Municipal Bond Ratings, Probit, Virginia
Suggested Citation: Suggested Citation
Daniels, Kenneth, An Empirical Analysis of Municipal Bond Ratings in Virginia (1997). Studies in Economics and Finance 1997, Available at SSRN: https://ssrn.com/abstract=3584063
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