This morning, December 13, 2021, the @WSJ posted this article: Parthenon Capital to Buy Kroll Bond Rating Agency in $900 Million Deal. Given my recent blogpost on the debt ratings industry, I thought it would be interesting to delve a bit into this announcement. @WSJ has a good series of articles reviewing the history of …
It is a Sunday morning in State College, PA. I spent time this morning thinking about reading and research I have done over the past weeks about the business of credit ratings. I will share some thoughts. Background The US market for credit rating agencies, also known in SEC parlance as NRSRO, includes nine competing …