Assessing the Influence of Standard & Poor's on Loan Syndication in the Financial Market

نوع المستند : المقالة الأصلية

المؤلف

Sohag University

المستخلص

This study aims to examine the relationship between a borrower's credit rating and the structure of a syndicated loan. A syndicated loan is a type of loan that is provided by a group of lenders, rather than just one. The study used data on 5,106 syndicated loans that were initiated between 1996 and 2017. The findings showed that borrowers with a higher credit rating were more likely to attract more lenders to provide financing. Additionally, when the borrower had a poor credit rating, the lead arranger (the bank that coordinates the syndicated loan) tended to hold a larger proportion of the loan compared to when the borrower had a good credit rating. Overall, the findings of this study indicate that the credit rating of a borrower can significantly influence the structure of a syndicated loan by reducing potential conflicts of interest between the lead banks and other participating lenders.

الكلمات الرئيسية

المجلة العلمية للدراسات والبحوث المالية والتجارية
المجلد 5، العدد 1 - الرقم المسلسل للعدد 1
المجلد 5؛ العدد 1؛ الجزء الأول
يناير 2024
الصفحة 31-68

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