Asymmetric benchmarking in bank credit rating

► This study proposes an information asymmetry hypothesis to examine why bank credit ratings vary among countries even when bank financial ratios remain constant. ► The sample includes the long-term credit ratings issued by Standard and Poor's from 86 countries during 2002-2008. ► The results show that the effects of financial ratios on ratings are significantly affected by information asymmetries. ► Countries wishing to improve the credit ratings of their banks thus should reduce information asymmetry.