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CFA必考點-subordinated bond（次級債券）的問題

發(fā)表時間： 2015-06-19 11:16:53 編輯：

CFA必考點-subordinated bond（次級債券）的問題，作為一名特許金融分析師對金融證券必須有很強(qiáng)的分析能力，同時在CFA考試中債券部分的涉及一些基礎(chǔ)知識和計算也是不容忽視的。

1、關(guān)于subordinated bond（次級債券）的問題

Given that a company’s issuer credit rating is BBB-, what is the rating for its subordinated bond?

A. BBB

B. BBB+

C. BB

Solution: C

問題中文重述：考慮到公司的主體信用評級為BBB-，什么是評級的次級債券？

Within unsecured debt, there can also be finer gradations and seniority rankings. The highest-ranked unsecured debt is senior unsecured debt. It is the most common type of all corporate bonds outstanding. Other, lower-ranked debt includes subordinated debt and junior subordinated debt. Among the various creditor classes, these obligations have among the lowest priority of claims and frequently have little or no recovery in the event of default.

An issuer credit rating is meant to address an obligor's overall creditworthiness—its ability and willingness to make timely payments of interest and principal on its debt.

The issuer credit rating usually applies to its senior unsecured debt.

（在無擔(dān)保債務(wù)，還可以有更細(xì)的層次和資歷的排名。排名的無擔(dān)保債券是無擔(dān)保債券。它是所有企業(yè)債券的常見的類型。其他排名較低的債券，包括次級債和初級次級債務(wù)。在各種債權(quán)類，這些義務(wù)中的權(quán)利要求的優(yōu)先級，并經(jīng)常有很少或沒有恢復(fù)默認(rèn)的事件。發(fā)行人信用評級是為了解決債務(wù)人的信用整體，其能力和意愿及時支付利息和本金的債務(wù)。發(fā)行人信用評級通常適用于它的無擔(dān)保債券。）

CFA必考點-subordinated bond（次級債券）的問題，作為一名特許金融分析師對金融證券必須有很強(qiáng)的分析能力，同時在CFA考試中債券部分的涉及一些基礎(chǔ)知識和計算也是不容忽視的。