A Re-Examination of Rating Shopping and Catering Using Post-Crisis Data on CDOs
13 Pages Posted: 25 Aug 2016
Date Written: August 23, 2016
We re-examine rating shopping and catering among CDOs by replicating a portion of Griffin, Nickerson, and Tang (2013) using post-crisis data. Our results are consistent with continued rating shopping and diminished rating catering behavior after the great financial crisis.
Keywords: collateralized debt obligations, credit rating agencies, credit spread, rating shopping, rating catering
JEL Classification: G14, G24, G28
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