摘要
高收益债在国际市场上指评级为投资级以下的高信用风险债券,该类债券通常较投资级债券有更高收益率。本文总结了国外高收益债市场概况,分析了中国高收益债的界定、发行规模与评级等市场发展情况。
In the international market, bonds with a rating below investment grade entail higher credit risk and therefore offer higher yields. These are also known as junk bonds. The article summarizes the development of foreign high-yield bond markets and analyzes the definitions, issuance volume and ratings of this kind of debt in China.
出处
《金融市场研究》
2016年第3期66-74,共9页
Financial Market Research
关键词
高收益债
信用评级
债券市场
High Yield Bond
Credit Rating
Bond Market