违约债券信用评级质量研究及启示

A Study on the Credit Rating Quality of Default Bond and Its Implications

对近期发生的债券违约事件进行总体分析,选取并研究具有代表性的违约案例,分析违约原因及评级情况,认为应强化评级机构中介责任,提高评级专业水平、完善业务监管机制,提升监管效能、加强信用评级制度建设,强化责任追究机制,以规范我国信用评级行业的发展。

Based on a general analysis on the recent bond default events,the paper selects and studies the representative cases of default,analyzes the causes for default and the ratings. We believe that such measures should be taken as strengthening intermediary responsibility of the rating agencies,raising their professional levels,optimizing the rating business regulatory mechanism,enhancing regulatory efficiency,improving the construction of credit rating system,and strengthening accountability mechanisms,so as to normalize the development of the credit rating industry in China.