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, specially for firms with small bond analyst coverage and these that are close to default. This coverage-induced shock leads to much https://stephen876lz.mybjjblog.com/credit-loan-a-detailed-anaylsis-on-what-does-not-and-what-works-30489989