AAA OR NOT AAA?

Global - Dec 14 2018

Sovereign assets with high ratings often remain regarded today as without material risk.

This signal can however lead us to neglect some of the major issues faced by sovereign debt, in part due to the very non-linear macro risks that can affect this asset class throughout history. In this context, let us look at some of the limitations of AAA ratings. Could we simply suggest that AAA should probably be re-thought to better take into account some “fat-tailed” risks, such as risks of energy and climate shocks or risks related to socio-political tensions? As mentioned very recently by a member of the Executive Board of the ECB (Benoît Coeuré) on climate change: “the distribution of shocks may become more “fat-tailed”.”

Read the full insight here.

Our latest
publications

Title
Category
Tag
Country
Date
Analyst insight
#ESG
Global
2019-12-08
Analyst insight
#Carbon #ESG
Global
2019-12-08
Analyst insight
#ESG
Global
2019-12-08
Research note
#ESG
Global
2019-12-08
Weekly food for thought
#Carbon/Climate Change
Global
2019-12-08
Weekly food for thought
#ESG
Global
2019-12-08
Weekly food for thought
#ESG
France
2019-12-08
Analyst insight
#Credit Risk #ESG
Global
2019-12-08
Weekly food for thought
#Carbon/Climate Change #Environment
Global
2019-12-08
Weekly food for thought
#ESG
Global
2019-12-08
Weekly food for thought
#ESG
France
2019-12-08
Analyst insight
#Carbon
Europe
2019-12-08
Weekly food for thought
#Carbon
Global
2019-12-08
Weekly food for thought
#ESG
Global
2019-12-08
Weekly food for thought
#Credit Risk
United States
2019-12-08
Analyst insight
#Environment
Northern Area
2019-12-08
Weekly food for thought
#Carbon/Climate Change
Europe
2019-12-08
Weekly food for thought
#ESG
France
2019-12-08
Weekly food for thought
#Credit Risk
Peru
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change
World
2019-12-08
Weekly food for thought
#ESG
France
2019-12-08
Weekly food for thought
#Credit Risk #GDP
Europe
2019-12-08
Weekly food for thought
#Carbon/Climate Change
Global
2019-12-08
Weekly food for thought
#ESG
Global
2019-12-08
Weekly food for thought
#Credit Risk
France
2019-12-08
Analyst insight
#Credit Risk #France
Europe
2019-12-08
Weekly food for thought
#ESG
Global
2019-12-08
Weekly food for thought
#Carbon/Climate Change
Global
2019-12-08
Weekly food for thought
#ESG
Global
2019-12-08
Weekly food for thought
#GDP
Europe
2019-12-08
Analyst insight
#ESG
Global
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change
Global
2019-12-08
Weekly food for thought
#Carbon #ESG
France
2019-12-08
Weekly food for thought
#Credit Risk
Global
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change
Global
2019-12-08
Weekly food for thought
#ESG
Europe, USA
2019-12-08
Weekly food for thought
#GDP
France
2019-12-08
Analyst insight
#Environment
France
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change
Global
2019-12-08
Weekly food for thought
#Carbon/Climate Change #ESG
Global
2019-12-08
Weekly food for thought
#Credit Risk #GDP
China
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change
Global
2019-12-08
Weekly food for thought
#ESG
USA
2019-12-08
Weekly food for thought
#GDP
Global
2019-12-08
Analyst insight
#Credit Risk #Sovereign Debt
Global
2019-12-08
Weekly food for thought
#Carbon #Climate #IPCC #WMO
Global
2019-12-08
Weekly food for thought
#Carbon #Inequality #Paris Agreement
France
2019-12-08
Weekly food for thought
#GDP #Sovereign Debt
Italy
2019-12-08
Analyst insight
#Credit Risk #GDP #Geopolitics #Sovereign Debt
Global
2019-12-08
Weekly food for thought
#Environment
Global
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change #GDP
Global
2019-12-08
Weekly food for thought
#GDP
France
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change #Environment
Global
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change #Climate #Environment
Global
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change #Climate #Environment
Global
2019-12-08
Analyst insight
#GDP
Brasil
2019-12-08
Weekly food for thought
#Environment
Venezuela
2019-12-08
Weekly food for thought
#Environment #Natural Capital
Norway
2019-12-08
Analyst insight
#Carbon #Carbon/Climate Change #Climate
United Kingdom
2019-12-08
Weekly food for thought
#Agriculture #Biodiversity #Climate #GHG #Greenhouse gases
Global
2019-12-08
Weekly food for thought
#Biodiversity #Climate #Environment #ESG #IPCC #Oceans #SIDS
Global
2019-12-08
Weekly food for thought
#Credit Risk #GDP
France
2019-12-08
Weekly food for thought
#Carbon/Climate Change
Europe
2019-12-08
Weekly food for thought
#Carbon/Climate Change
France, Canada
2019-12-08
Weekly food for thought
#Credit Risk #GDP
Argentina
2019-12-08
Analyst insight
France, Egypt
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change #Climate
France
2019-12-08
Weekly food for thought
#GDP #Sovereign Debt
Germany
2019-12-08
Weekly food for thought
#Environment #ESG
Global
2019-12-08
Analyst insight
#GDP #Natural Capital #Sovereign Debt
South Africa, France
2019-12-08
Weekly food for thought
#Credit Risk #Sovereign Debt
United States
2019-12-08
Weekly food for thought
#Carbon/Climate Change
Global
2019-12-08
Weekly food for thought
#Carbon/Climate Change #Environment #ESG
Global
2019-12-08
Weekly food for thought
#Carbon/Climate Change #Climate
Global
2019-12-08
Weekly food for thought
#ESG
India
2019-12-08
Weekly food for thought
#Credit Risk #GDP
USA, Japan, European Union
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change #GDP #Paris Agreement #Sovereign Debt
Global
2019-12-08
Weekly food for thought
#Climate #Environment #Paris Agreement
Small Island Developing States, Global, Barbados, Fiji
2019-12-08
Weekly food for thought
#Credit Risk #GDP #Sovereign Debt
Venezuela
2019-12-08
Analyst insight
#Carbon #Carbon/Climate Change #Climate #Credit Risk
Global
2019-12-08
Analyst insight
Global
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change #Climate
Global
2019-12-08
Weekly food for thought
#Credit Risk #GDP
Global
2019-12-08
Analyst insight
#Biodiversity #Environment #Natural Capital
Brazil
2019-12-08
Weekly food for thought
#Credit Risk #Sovereign Debt
United States
2019-12-08
Weekly food for thought
#Carbon/Climate Change
Global
2019-12-08
Analyst insight
#Credit Risk #Sovereign Debt
United States
2019-12-08
Analyst insight
#Carbon/Climate Change #Credit Risk #ESG #Natural Capital
Global
2019-12-08
Analyst insight
#Carbon #Carbon/Climate Change
Europe
2019-12-08
Weekly food for thought
#Carbon #Carbon/Climate Change #Climate #Paris Agreement
France
2019-12-08
Weekly food for thought
#Credit Risk #Sovereign Debt
Europe
2019-12-08
Weekly food for thought
Global
2019-12-08
Analyst insight
Global
2019-12-08
Weekly food for thought
France
2019-12-08
Weekly food for thought
#Carbon/Climate Change #ESG
Global
2019-12-08
Weekly food for thought
Global
2019-12-08
Weekly food for thought
Global
2019-12-08
Weekly food for thought
Global
2019-12-08
Analyst insight
#Biodiversity #Climate #Environment #Natural Capital #Paris Agreement
Global
2019-12-08
Weekly food for thought
United States
2019-12-08
Weekly food for thought
Italy
2019-12-08
Weekly food for thought
Global
2019-12-08
Analyst insight
Middle East & North Africa
2019-12-08
Weekly food for thought
Global
2019-12-08
Weekly food for thought
Global
2019-12-08
Research note
#Carbon #Carbon/Climate Change #Climate #Paris Agreement
Global
2019-12-08
Weekly food for thought
Global
2019-12-08
Analyst insight
All
2019-12-08
Weekly food for thought
United States
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
#Carbon/Climate Change #Climate #Credit Risk
England
2019-12-08
Weekly food for thought
Global
2019-12-08
Weekly food for thought
Germany
2019-12-08
Analyst insight
Brazil
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
Italia
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
Canada
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
All
2019-12-08
Analyst insight
Sweden
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
Italia
2019-12-08
Analyst insight
All
2019-12-08
Weekly food for thought
USA
2019-12-08
Analyst insight
All
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
United Kingdom
2019-12-08
Weekly food for thought
United Kingdom
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
All
2019-12-08
Research note
All
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
Russia
2019-12-08
Analyst insight
Argentina
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
European Union
2019-12-08
Analyst insight
European Union
2019-12-08
Analyst insight
Greece
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
European Union
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
Cuba
2019-12-08
Weekly food for thought
All
2019-12-08
Analyst insight
Greece
2019-12-08
Weekly food for thought
European Union
2019-12-08
Weekly food for thought
French Guyana
2019-12-08
Weekly food for thought
#Sovereign Debt
Russia
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
Venezuela
2019-12-08
Analyst insight
All
2019-12-08
Weekly food for thought
United Kingdom
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
France
2019-12-08
Weekly food for thought
European Union
2019-12-08
Weekly food for thought
All
2019-12-08
Weekly food for thought
France
2019-12-08

Let's keep in touch!

This field is required
Invalid email

Register to our newsletter to be the first to hear about ...

By submitting this form, you consent to receiving email communications from Beyond Ratings. Beyond Ratings will update your email preferences and hold your details in its contact database. For more information on how Beyond Ratings uses your data, see our Privacy Policy.

Get started

More investors are choosing Beyond Ratings' proprietary ESG-augmented financial metrics to gain a 360° view of company and country ESG performance.