Study Of The Corporate Bond Rating In Our Country

In a sense, the current world economy has become a "credit economy", the financial system of credit is the most basic and core elements, this phenomenon in the bond market is far more dramatic. First, the bond market's existence is premised on the existence of credit; Second, in the perfect bond market, the issuers of the main level of credit can be determined by its bond market acceptance, while the bond itself is to determine the bond credit rating is more price and distribution model. High credit rating of the bond market tends to be generally recognized, and thus lower prices, to ensure that the main issue bonds to finance at lower cost end, to promote its own development. August 2007, the CSRC promulgated the "Company bonds Pilot" and "the stock Ratings Services Tentative", marks the official start of China corporate bond ratings.This paper introduces the concept and the role of credit rating, corporate bond rating of the concept and role; outlines the theory of credit rating. Second, we review the development process of the U.S. credit rating industry, rating procedures, rating methods, and characteristics of U.S. corporate bond rating, which is the development of corporate bond rating in China have some inspiration. China's bond rating business began in the 20th century, 80s, along with the development of China's bond market developed, and through our bond rating and bond rating companies in the U.S. The contrast between that of China's corporate bond credit rating problems. Finally, China's corporate bond ratings improve a number of recommendations...