W ORKING P APER NO. 576 Do Internal Rating Models Mitigate Bank Opacity? Evidence from Analysts’ Forecasts Brunella Bruno, Immacolata Marino, and Giacomo Nocera June 2020 This version July 2021 University of Naples Federico II University of Salerno Bocconi University, Milan CSEF - Centre for Studies in Economics and Finance DEPARTMENT OF ECONOMICS – UNIVERSITY OF NAPLES 80126 NAPLES - ITALY Tel. and fax +39 081 675372 – e-mail. csef@unina.it ISSN. 2240-9696