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The Determinants of Brazilian Banks' Credit Rating Levels

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  • Fabiano Guasti Lima
  • Camila Veneo C. Fonseca
  • Rodrigo Lanna Franco Silveira
  • Alexandre Assaf Neto

Abstract

The purpose of this study is to identify the determinants of listed Brazilian banks' credit ratings during the period 2006-2015. We applied an ordered logistic model, using an unbalanced panel. Results show evidence that profitability, liquidity, asset adequacy and quality, and size variables significantly affect bank credit-rating levels. Findings also suggested that credit ratings trended down, which could be explained by the significant contraction of economic activity in Brazil during the period.

Suggested Citation

  • Fabiano Guasti Lima & Camila Veneo C. Fonseca & Rodrigo Lanna Franco Silveira & Alexandre Assaf Neto, 2018. "The Determinants of Brazilian Banks' Credit Rating Levels," RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, vol. 22(2), pages 178-200.
    • Handle: RePEc:abg:anprac:v:22:y:2018:i:2:1268
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