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| - | ====== Credit Risk ====== | ||
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| - | Credit Risk is the risk of the default of a debt. | ||
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| - | Every credit operation has a default risk. | ||
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| - | A credit agreement can be unfilled by: | ||
| - | - Non payment | ||
| - | - Partial payment | ||
| - | - Later than prearranged payment date | ||
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| - | For the lender, it's a problem of [[imperfect information]]. | ||
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| - | Large [[financial institutions]], like [[Banks]] employ own models to classify it's clients. | ||
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| - | There are companies engaged in evaluate the financial situation of governments and large companies. The biggest [[credit rating agencies]] are: | ||
| - | * Standard & Poor's | ||
| - | * Fitch | ||
| - | * Moody's | ||
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