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 higher optimism-bias in ratings, specifically for firms with small bond analyst coverage and those that are close to default. This coverage-induced shock leads to much https://felix664cp.tokka-blog.com/17124131/the-best-solution-for-credit-loan-today-that-you-could-learn