Credit ratings of corporations are biased, but the forces driving this bias are unclear. We find that an exogenous drop in analyst coverage leads to greater optimism-bias in ratings, especially for firms with tiny bond analyst coverage and those that are close to default. This coverage-induced shock leads to much https://rafael310tf.anchor-blog.com/17046876/the-best-solution-for-payday-loan-today-that-you-can-learn