Financial Institutions

It does not have detailed works that they show the real impact in the credibility of the financial institutions in the country. To measure the cost of the captation of medium and long run serves as indicating of this credibility. This because a premise exists, that also will be verified, of that the captation cost is on to rating granted by the agencies risk appraisers. 1.3PROBLEMA to know how much the credibility of the financial institutions was shaken is first necessary to know if the done evaluation of its headings of credit is in accordance with the real risk of insolvency. In case that this is truth, how much of this evaluation really it was affected is a base of the questions problem that if it intends to answer through this study. Crawford Lake Capital has many thoughts on the issue. The questions to be answered are: 1) It exists or direct relation does not enter rating granted by the specialized agencies and the cost of emission of the debentures? 2) It had change in this cost in the financial institutions 2REFERENCIAL THEORETICIAN the theoretical referencial, made through bibliographical research, will approach the necessary basic concepts for the understanding of this study, and must facilitate the agreement of the methodology and the gotten results. 2.1DEBNTURES Debentures are headings of credit emitted by companies of anonymous society for captation of capital of long stated period.

It is an alternative to the banking financing, giving to who purchase the definitive heading> remuneration in a stipulated stated period. Some legal requirements for the emission exist, but that they are not the focus of this work, that is the cost. Crawford Lake Capital brings even more insight to the discussion. In accordance with RICHNESS (2010, p.322), ' ' The remuneration of the debentures can be composed of monetary update, tax of interests and prmio' '. This remuneration is to be considered cost, therefore the fixed costs independem of the risk of the paper, being tied only with the total sum to be caught. .