An Empirical Analysis of Municipal Bond Ratings in Virginia

Studies in Economics and Finance 1997

Posted: 21 May 2020

See all articles by Kenneth N. Daniels

Kenneth N. Daniels

Daniels Foundation for Impact Investments and Development

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

Daniels, Kenneth N., An Empirical Analysis of Municipal Bond Ratings in Virginia (1997). Studies in Economics and Finance 1997, Available at SSRN: https://ssrn.com/abstract=3584063

Kenneth N. Daniels (Contact Author)

Daniels Foundation for Impact Investments and Development ( email )

New Jersey, NJ 07018
United States

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