NEW YORK–(BUSINESS WIRE)–The current turmoil across several emerging markets reminds us of the importance of liquidity in evaluating sovereign credit risk, just as it has a prominent role in assessing the credit risk of all other asset classes. Kroll Bond Rating Agency’s (KBRA) approach to rating sovereigns explicitly emphasizes liquidity risks and recognizes the importance of access to liquidity in stabilizing an economy. Sovereigns have extraordinary sources of liquidity from official and b
