NO.PZ2022072501000011
问题如下：
Which of the following best representsfactors least considered by credit ratings agencies (CRAs)?
选项：
A.
Bankruptcy risk, standard credit ratio analysis, litigation risk.
B.
Bankruptcy risk, litigation risk, human capital risk.
C.
Environmental risk, religious or ethical risk.
D.
Environmental risk, standard credit ratio analysis, governance risk.
解释：
解析：
选项C正确。信用评级机构在做ESG分析的时候，会关注一系列法律风险（包括环境、雇佣、人权方面的）；在定量分析方面，信用评级机构会关注破产风险和企业资产负债表情况等；CRA会使用标准的信用比率分析来做测试。在这几个选项中，CRA最不会考虑的风险应该是宗教或道德风险。
The levels of litigation risk are often analysed as well, including: environmental litigation, employment litigation or human rights violations (e.g. modern slavery laws). To that degree, ESG risk, which comes to litigation, has always been incorporated into CRA analysis.On the quantitative side, CRA analysis focuses on the issuer’s overall bankruptcy risk, the strength of its balance sheet, and how it compares to other issuers. CRA also uses standard credit ratio analysis to test how ESG factors affect an issuer’s ability to convert assets into cash (profitability and cash flow analysis)
如题，具体的讲解在讲义或者大纲的哪里出现过？谢谢
