A Case Study Of Default Risk Of Coal And Electricity Bond In Yongcheng

With the continuous expansion of the scale of my country's capital market,credit bond default events in my country's bond market frequently occur,especially the bond default events of AAA state-owned enterprises with relatively good qualifications have caused panic in the market.This paper takes Yongcheng Coal and Electricity as a research object,starts with the disclosed financial data of Yongcheng Coal and Electricity,and deeply analyzes its profitability,solvency,operating capacity and other key financial data,using the revised Z-score model to analyzed the potential credit risks of Yongcheng Coal Power's financial comprehensive indicators and debt structure,this paper explores the causes of Yongcheng Coal and Electricity's default events from four levels:industry level,company level,regulatory level and rating level,and gives corresponding risk prevention measures based on the four perspectives of issuers,regulators,rating agencies and investors.It is hoped that the case studies in this paper can provide certain reference for bond issuers in reducing bond defaults.It will attract the attention of bond issuers and all sectors of society to the early warning of bond risks,and create a favorable investment environment for the majority of investors to promote the healthy development of my country's bond market.