主权信用评级问题研究

Rsearch on Sovereign Credit Rating

主权信用评级在金融危机中发挥预警作用的同时,还在一定程度上起到了推波助澜的作用。随着各国政府在国际资本市场上发行主权债券的增多,主权信用评级从商业领域步入政治经济领域,不得不引起世界各国政府的高度关注。评级公司在对主权风险进行评级的过程中存在着很多问题,如道德风险、评级失误等,对主权评级过程、模型进行研究、修正具有十分重要的现实意义。本文对标普公司主权评级模型进行了介绍,对主权评级模型提出建议,并对美国主权信用登记进行了分析。

The sovereignty credit rating plays the early warning role while the financial crisis, but also took the effect which to a certain extent added fuel to the flames. Followsthe increasing of various countries＂ government to distribute the sovereignty bond in the international capital market, the sovereignty credit rating marches into the political economic domain from the commercial domain, arouses various countries＂ high interest. The rating companies have many problems in the process in carrying on the rating to the sovereignty risk, like the moral hazard, the rating fault and so on, conduct the research to the sovereignty rating process model to have the very vital practical significance. This arti- cle carried on introduce of Standard and Poor company sovereignty rating model, pat forward the proposal to the sovereignty rating model, and has carried on the analysis to the American sovereignty credit registration.