“次贷危机”对我国信用评级业的启示

Sub-prime Mortgage Crisis and Its Implications for Credit Rating Industry in China

评级机构提供的风险情报对于保护由于信息不足而易蒙受债券倒闭损失的投资者将起到重要作用。由于现代金融体系的全球化,以及参与美国次级债券的投资机构众多,美国次级债危机很快在全球蔓延开来,逐步演变成了一场全球信用危机,而一贯被人们寄予厚望的信用评级机构在这场愈演愈烈的危机中却备受指责。这场全球性的信用危机为我国债券市场信用评级制度的完善提供了有益的启示。

Information of risk provided by credit rating agencies plays an important role in protecting bond investors from loss who are absence of information. With the globalization of modem financial system and so many investment institutions involved, the American Sub-prime Mortgage Crisis is spreading quickly all over the world and developing into a global credit crisis, in which credit rating industry used to be trusted is being criticized severely. This global credit crisis has some implications for improving the credit rating system of bonds market in China.