The United States Credit Rating System Analysis And Their Inspiration To China

Credit rating is by the credit rating agencies or departments according to the setindex to predict whether the debtor on time full specified amount, the principal andinterest of repayment of the debt ability and intend to. Credit rating to credit risk forsimple and objective instructions, and reduce the financing of enterprise andinvestors of the asymmetric information, so as to promote financing, and perfect andactive bond market, improve the efficiency of the capital market. Therefore, indeveloped countries, credit rating has become an indispensable part of the capitalmarket. Along with the development of capital market and perfect, especially therise of the bond market, credit rating of the growing importance of highlights, creditrating of the wide prospect of market. But because of our country’s credit ratings hasjust started, development is relatively slowly. As the world credit the mostdeveloped country, after more than years of development, the American form ofperfecting the credit rating system represent the rating to the forefront ofdevelopment of theory. For American credit rating system, learn the advancedexperiences and to promote the development of our country’s credit ratings andperfect the has an important enlightenment. At the same time, because of the resultof credit rating directly affect securities pricing, investors are the importantreference do investment decisions, so credit rating and authenticity of the objectivityoften been concerned.2001years of "enron events" make with moody’s investorsservice, fitch ibca, standard&poor’s three major credit rating company, as arepresentative of the credit rating by people’s and criticism. Now, with the subprimecrisis and spreading, and moody’s and standard&poor’s and fitch ratings three creditrating company once again been pushed to the two-decade-long of public opinion,they to the subprime mortgage loans to subprime not objective ratings crisis plays animportant role, make them again the authority of doubt, also cause people to thecredit rating and credit rating agency to think again. That people’s understanding ofthe importance of credit rating up to a new height, realize the advanced experienceof the United States in reference at the same time, also should draw lessons, andpromote our country’s national brand of the development of the credit ratingagencies.This thesis mainly divided into the text five parts, the first part of this paper theresearch background, significance and purpose research abroad status are reviewed.The second part introduces the credit rating of the basic theory, make people ofcredit ratings meaning, function, principle, classification and methods have a preliminary understanding of the meaning of credit rating has the overall assurance；The third part is the general situation of the credit rating system, from the UnitedStates credit rating system, the development of credit rating agencies, credit ratinglevel symbols, credit rating index system and credit ratings regulation system andmany credit rating system facing the United States are introduced, and analyzes thecharacteristics of the credit rating system and credit rating on the U.S. economydevelopment impact. The fourth part is the subprime crisis caused people to creditrating again understanding. The fourth part is our country at present the credit ratingsystem present situation and the existence question, mainly through our country’scredit rating system of the present situation of the development, this papersummarized the development of our country’s credit rating system problems. Thefifth part is the United States credit rating system of enlightenment. According toour country’s credit evaluation system and the problems existing in the constructionof credit credit evaluation system of the experience, summarizes suitable for theactual situation in our country of perfect our country’s credit ratings Suggestions andcountermeasures.