Calidad crediticia, una visión controvertida sobre la importancia de las agencias calificadoras

César Gurrola Ríos; Claudia Berenice Cano López de Nava; José Gerardo Ignacio Gómez Romero

Autores/as

César Gurrola Ríos
Claudia Berenice Cano López de Nava
José Gerardo Ignacio Gómez Romero

Palabras clave:

Agencias calificadoras, Limitaciones del rating

Resumen

La calidad crediticia o capacidad de endeudarse y responder adecuadamente a las obligaciones financieras es apenas uno de los elementos de una adecuada política de administración del riesgo de crédito. Tradicionalmente esta calidad ha sido evaluada por agencias calificadoras, entre las más importantes: Standard & Poor´s y Moody´s Investors Service.

La evidencia empírica muestra que los grados de exposición al riesgo de crédito han aumentado significativamente, con el correspondiente incremento en la confianza por parte de inversionistas y reguladores en el trabajo realizado por las agencias calificadoras. Sin embargo, la evidencia también revela limitaciones importantes por parte de tales agencias especializadas; limitaciones que, al parecer, no han podido ser resueltas en tu totalidad.

Lo anterior sugiere la necesidad de contar con herramientas alternativas de administración de riesgo de crédito, más sofisticadas y con justo apego a las condiciones y requerimientos específicos de los mercados.

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