ABSTRACT
‘Introduction to the world of credit rating’, introduces the reader to the intriguing world of credit rating and underlines that credit ratings, mere opinions as they can be, matter a lot: they guide investors in what debt security to buy and how much to pay for. Users, therefore, expect credit rating agencies to provide objective information based on sound analytical methods. Indeed, in cases of inaccuracy, ratings can seriously harm the market efficiency they are supposed to enhance and can lead to financial catastrophes.
