Table 5 Ratings given by Moody’s and EJR before defaults
From: Detecting conflicts of interest in credit rating changes: a distribution dynamics approach
Month before default | Moody's | EJR | Moody's—EJR |
|---|---|---|---|
1 | 3.44 | 2.79 | 0.65 |
2 | 3.64 | 3.18 | 0.46 |
3 | 3.76 | 3.67 | 0.09 |
4 | 3.96 | 3.96 | 0.00 |
5 | 4.27 | 4.33 | − 0.06 |
6 | 4.41 | 4.54 | − 0.13 |
8 | 4.77 | 4.50 | 0.27 |
9 | 5.10 | 4.91 | 0.18 |
10 | 5.33 | 5.05 | 0.29 |
11 | 5.45 | 5.00 | 0.45 |
12 | 5.63 | 5.15 | 0.48 |
Average | 4.52 | 4.28 | 0.24 |