Predicting Changes of Credit Ratings for Non-financial Companies Operating in BRICS Countries

Student: Kunitskaya Tatsiana

Educational Programme: Financial Markets and Financial Institutions (Master)

Year of Graduation: 2018

In this work in order to identify factors influencing changes of credit ratings for non-financial companies operating in BRICS countries unordered multinomial logit model was built. Macroeconomic factors, accounting and stock market indicators were used as explanatory variables. Information about credit ratings changes may interest investors and lenders, who take into account credit ratings while making decisions about investing or lending, respectively.

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