Credit ratings of corporations are biased, but the forces driving this bias are unclear. We discover that an exogenous drop in analyst coverage leads to greater optimism-bias in ratings, particularly for firms with tiny bond analyst coverage and those that are close to default. This coverage-induced shock leads to significantly https://martin098lx.blog-a-story.com/21454458/small-loan-a-detailed-anaylsis-on-what-does-not-and-what-works