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在债券尤其是信用债券的发行过程中,发行公司的信用评级是非常重要的,债券信用评级的主要作用是揭示风险、引导投资,并降低具有较高信用筹资者的筹资成本。而我国的信用评级体系业务起点较低,不同发行主体间的信用质量因约束软化而变得模糊不清,信用评级技术也不完善,合理的信用评级体系尚未完成。而且我国的一些信用评级公司缺乏独立性,公平性失真,不能真实揭示公司债的风险特征,存在很大的信用风险。
The credit rating of issuers is very important in the issuance of bonds, especially credit bonds. The main function of bond credit rating is to reveal risks, guide investment and reduce the financing cost of those with higher credit. However, the starting point of credit rating system in our country is low, the credit quality between different issuers becomes blurred due to the restriction softening, the credit rating technology is not perfect, and the reasonable credit rating system has not been completed yet. And some credit rating companies in our country lack independence, fairness and distortion, can not reveal the risk characteristics of corporate bonds, and have great credit risk.