The Study On Structuring Credit Grading Method

Nowadays, with some relevant policies, such situation has been changing gradually, indirect finance has been developed fast, especially the bond market. And credit bonds have seen the significant expansion. But as the credit bonds lack of the state credit insurance, credit risk has been an apparent character for them, and this kind of risk will be more and more important to investors with the expanding of such credit bonds market even if there is no real default events on the bonds market. However, as there is too little information over such credit bonds themselves for investors to make reasonable decisions, investors more likely depend on the results from credit grading agents. Unluckily, such credit grading agents normally do not play a neutral role and even if they are neutral, there still are some unreliable results over the results they give. And they only provide simple comments over bonds, which is not enough for investors. So it is urgent and necessary to structure a suit of bonds credit grading methods from the perspective of investors.With such a purpose, I am going to promote such a credit grading method for short-term and long-term bonds, respectively, and would make some empirical Test based on such method.