NO.PZ202305230100009001
问题如下：
Compare the credit rating of the Class A bonds issued by the SPE and the uncollateralized bonds issued directly by AR&C. The Class A bonds are most likely rated:
选项：
A.
lower than AR&C bonds.
B.
the same as AR&C bonds.
C.
higher than AR&C bonds.
解释：
The correct answer is C. The Class A bonds issued by the SPE are backed by collateral, the leases sold by AR&C to the SPE, and they are the most senior of the bonds issued by the SPE. A secured bond is secured by collateral and is considered less risky than a bond without collateral backing. The Class A bonds issued by the SPE would most likely be rated higher than any unsecured corporate bonds issued directly by AR&C.
题干中的这句描述不理解。ARC holds BBB credit rating, meaning that it‘s non-investing grade. 但大于BBB-不就是investment grade吗？
