感觉是反的

问题如下：

Li is a credit analyst in a wealth management firm. Bond C is a 5-year floating-rate bond rated at BBB by Standard & Poor’s. Based on Li’s assumption about probability of default, recovery rate and interest rate volatility, the bond’s fair value Li calculated is 1106.67. Compared with the market value, Li believes that the bond is undervalued. According to the information above, which action would Li most likely expect from the credit rating agencies?

选项：

A.

Place the issuer on watch with a positive outlook.

B.

Upgrade from BBB to AAA

C.

Downgrade from BBB to C

解释：

A is correct.

考点：债券评级

解析：

因为当前通过Li的假设，计算出来的合理价格是1106.67；与市场价格相比，当前债券是被低估的；也就是说Li认为该债券的Recovery rate和Probability of default都要比评级公司的更乐观，所以在他眼中，评级公司很有可能对该公司给定一个Positive的前景预期。