Study On Credit Risk Assessment Of The PPP Mode

As the Chinese government vigorously promote,the PPP has become the most popular public infrastructure investment and financing mode.However,at the beginning of establishment of the PPP project,the general assets on a smaller scale,at the same time,a long construction period,large amount of follow-up funding refinancing problems become major problems.Therefore,the direct financing through the capital market to become the PPP project follow-up funds safeguard,project yield bonds and the like innovation model combined with the PPP also have strong support from the national level.In view of the complexity and particularity of PPP project,whether it is on the government level or the private sector as well as other parties involved,all need to understand the credit risk of PPP project construction and take reasonable measures to measure and avoid risks.This paper adopts the method of combining theoretical analysis and data analysis of the PPP project financing model of the basic connotation and theoretical foundation for the PPP project in credit risk analysis,it is concluded that the PPP project credit evaluation of the basic elements and methods.Then through to the jiangxi fjard water conservancy hub project,a typical case analysis of the PPP,use financial statement analysis,the external environment analysis from the project's assets,such as credit,project partner credit and external environment of the three big aspect for qualitative analysis.Finally through the AHP analytic hierarchy process(AHP)credit risk factors will affect the project quantitative analysis,calculates the project asset credit risk in credit evaluation dominate,the construction risk under the credit risk of these assets,project partners under the credit risk of the government credit risk cannot be ignored.At the same time,based on the characteristics of China's national conditions and current situation of the development of the PPP sum up out the relations among them.Based on the project for PPP projects in China credit wind prevention from the system construction and innovation model,definition of social capital,government credit construction and risk sharing mechanism and so on opinions and Suggestions are put forward.