我国外部信用评级付费模式分析

An Analysis of Charging Models for External Credit Rating in China

次贷危机后信用评级机构的公正性受到质疑,其评级收费模式即发行人付费模式本身的内在缺陷,容易导致利益冲突和评级采购等问题,严重影响了评级结果的客观性和公正性。比较信用评级的付费模式,分析我国信用评级的现状及现行付费模式存在的问题,认为发行人付费模式仍然是目前我国信用评级最可行的模式,但从长远发展来看,收费模式会随着外部市场环境的变化及评级机构自身的发展而不断演进。

The fairness of credit rating agencies has been questioned since the sub - prime mortgage crisis. The in- trinsic defects of their rating charging model, i.e. the issuer paying model, easily lead to interest conflicts and rat- ing purchases and other problems, which has seriously affected the objectivity and fairness of rating results. By com- paring the credit rating charging models and analyzing the current situation and existing problems of charging mod- els, the paper holds that the issuer paying model is still the most viable one ; but from the long - term development, charging models will evolve with the external changes in market conditions and the with development of rating agen- cies.