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论文编号：	13415
作者编号：	2320180541
上传时间：	2022/6/15 9:45:10
中文题目：	A评级公司的信用评级现状及优化研究——对Y公司违约债券评级为例
英文题目：	Research on the Current Situation and Advantages of Credit Rating of A Rating Company——Take the rating of default bonds of company Y as an example
指导老师：	姚颐
中文关键字：	信用评级 “看门人” 债券违约
英文关键字：	Credit Rating “Doorman” Bond default
中文摘要：	我国经济从党的十一届三中全会开始，进入了全面高速发展的阶段。在这其中我国的债券市场业务也取得的巨大的发展，债券融资工具作为我国企业的直接融资工具，依靠我国改革开放的东风之势，已经发展成为世界第二大债券市场，在我国金融行业市场中拥有举足轻重的地位。在债券市场中，信用评级是不可或缺的组成，按照我国人民银行对评级机构的最新要求，信用评级机构应该提升自身要求，要做好我国债券市场的“看门人”。 信用评级制度作为我国债券市场的重要基础性制度安排，但是由于近年来我国债券市场不断出现高信用评级的主体违约事件，国内信用评级行业水平受到普遍质疑，国内信用评级机构的公信力也日渐微弱，信用评级质量不理想。自2021年人民银行及银行间市场交易商协会等监管机构不断推出新政策，逐步取消了部分债券注册以及发行过程中对于信用评级报告的强制要求，不过鉴于各方面因素的影响，完全取消强制评级应该还需要一段时间，因此如何提升国内信用评级行业水平，仍然值得我们去研究探讨。 本文以A评级公司对Y公司的信用评级过程为案例，通过理论基础结合案例情况，对A评级公司在对Y公司的信用评级过程及存在的问题分析，最终从A评级公司自身的发展角度提出了提升信用评级质量水平的建议，同时也对国内信用评级行业的健康发展提出建议，希望能够为完善我国债券市场制度和信用评级市场的健康发展提供借鉴作用，切实提升国内信用评级行业水平。
英文摘要：	Since the Third Plenary Session of the 11th Central Committee of the Communist Party of China, China's economy has entered a stage of comprehensive and high-speed development. Among them, China's bond market business has also achieved great development. As a direct financing tool for Chinese enterprises, bond financing instruments have developed into the world's second largest bond market and play a pivotal role in China's financial industry market. In the bond market, credit rating is an indispensable component, According to the latest requirements of the people's Bank of China for rating agencies, credit rating agencies should improve their own requirements and be a "gatekeeper" of China's bond market. Credit rating system is an important basic institutional arrangement in China's bond market. However, due to the continuous occurrence of main defaults with high credit rating in China's bond market in recent years, the level of domestic credit rating industry has been widely questioned, the credibility of domestic credit rating agencies has become increasingly weak, and the quality of credit rating is not ideal. Since 2021, the people's Bank of China, the association of interbank market dealers and other regulatory agencies have continuously introduced new policies and gradually cancelled the mandatory requirements for credit rating reports in the registration and issuance of some bonds. However, due to the influence of various factors, it should take some time to completely cancel the mandatory rating. Therefore, how to improve the level of domestic credit rating industry, It is still worth studying and discussing. Taking the credit rating process of a rating company to Y company as a case, this paper analyzes the credit rating process and existing problems of a rating company to Y company through theoretical basis and case situation, and finally puts forward suggestions to improve the quality level of credit rating from the perspective of the development of a rating company itself, as well as suggestions for the healthy development of domestic credit rating industry, It is hoped that it can provide reference for improving China's bond market system and the healthy development of credit rating market, and effectively improve the level of domestic credit rating industry.
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