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Inflated ‘Private’ Ratings Are Masking Credit Risk, Columbia Study Says

Date Published
June 8, 2026
Section
In the Media
Areas of Expertise
Corporate Finance Economy & Policy Finance Financial Institutions Leadership
From:
CBS In the News

Expertise in credit rating agencies, private credit markets, insurance regulation, and the measurement of credit risk. Our research shows that private ratings are systematically more inflated and less accurate than public ratings, allowing credit risk to be understated in regulated insurance portfolios.

Mentioned Faculty & Post-Graduate(s)

Xuelin Li

Xuelin Li

Assistant Professor of Business
Finance Division
Simon Oh

Simon Oh

Assistant Professor of Business
Finance Division
placeholder image

Giacomo Ricciardi

PhD Candidate
Finance Division
Mentioned On
Bloomberg
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