Did the rating standard for banks change after the crisis?

Did rating agencies tighten their rating standard after the overwhelming critique on their generous ratings before 2008? This study aims to examine whether 2008 is the cutoff year to investigate whether the bank rating standard was loosened prior to the 2008 crisis and became stringent after the crisis. We discuss the rating standard for three objects, namely, issuer ratings, individual ratings, and government support. Our results show the rating standard for issuer rating was loosened before 2008 and is not tighter after 2008. The rating standard for individual rating did not change before the crisis but became increasingly stringent after the crisis. Third, the agencies highly evaluate government support, especially during 2007–2011 and 2015–2016.