Sovereign risk assessment and agency credit ratings
随着更多高风险政府进入国际债券市场，主权评级重要性上升，但评估困难导致机构分歧和公众争议，市场对评级持怀疑态度。
Abstract Sovereign ratings are gaining importance as more governments with greater default risk borrow in international bond markets. However, while the ratings have proved useful to governments seeking market access, the difficulty of assessing sovereign risk has led to agency disagreements and public controversy over specific rating assignments. Recognising this difficulty, the financial markets have shown some scepticism toward sovereign ratings when pricing issues.