Do Rating Downgrade And Default Reduce Inflated Rating Of Credit Rating Agencies In China? The Moderating Effect Of Bond Issuers’ Profiles

This study explores the impact of rating downgrades and defaults on inflated ratings provided by credit rating agencies (CRAs) in China, with a particular focus on the moderating effects of issuers' profiles. As China's bond market has rapidly developed, inflated ratings and the associated risks have emerged as critical issues, undermining market stability and investor confidence.