Master
2025/2026
Ratings
Type:
Elective course (Financial Analyst)
Delivered by:
HSE Banking Institute
Where:
HSE Banking Institute
When:
2 year, 2 module
Open to:
students of all HSE University campuses
Language:
English
ECTS credits:
3
Contact hours:
30
Course Syllabus
Abstract
Credit ratings play a crucial role in the decision-making on investment and manage-ment of financial institutions around the world. This course is focused mostly on na-tional and international rating agencies, rating modeling, and scales and processes. A special attention is paid to methodological differences among rating agencies and quantitative techniques of rating scales, as well as government regulatory practices in banking and finance. In addition, this course provides overviews how credit ratings are assigned and used in financial institutions. Finally, it covers issues of using different types of credit ratings, simultaneously.
Learning Objectives
- The main goal is providing to the students information how to distinguish and analyze the key issues for creation and application of internal and external bank ratings
Expected Learning Outcomes
- Students will be able to: • highlight the key methodological differences in both international and national rating agen-cies;
- • apply the best practices to assign ratings to different types of economic agents (banks, corpo-rates, government authorities STI);
- • design the relevant and robust system of internal credit ratings for a financial organization;
- • include internal and external credit ratings in the banking control system of financial risks.
Course Contents
- The concept of credit ratings: international and national rating agencies, internal credit rat-ings
- Features of ratings for various types of economic agents.
- The regulatory use of credit ratings
- Analysis of ratings from different rating agencies
- Creating a system of internal credit ratings
- Creating a risk management system using external and internal credit ratings.
Interim Assessment
- 2025/2026 2nd module0.6 * Final Exam + 0.2 * class discussions + 0.2 * home assignment e assignment
Bibliography
Recommended Core Bibliography
- Nye, R. P. (2014). Understanding and Managing the Credit Rating Agencies. Euromoney Books.
Recommended Additional Bibliography
- Booth, A., & de Bruin, B. (2021). Stakes Sensitivity and Credit Rating: A New Challenge for Regulators. Journal of Business Ethics, 169(1), 169–179. https://doi.org/10.1007/s10551-019-04260-2