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幸运是努力带来的 · 2025年04月29日

credit curve和公司自身信用风险有关吗?

NO.PZ2023040701000114

问题如下:

With respect to the credit quality of UNAB, Watt makes the following statement:

"There is severe near-term stress in the financial markets and UNAB's credit curve clearly reflects the difficult environment."

According to Watt's statement, the shape of UNAB's credit curve is most likely

选项:

A.

flat

B.

upward-sloping

C.

downward-sloping

解释:

Correct Answer: C

A downward-sloping credit curve implies a greater probability of default in the earlier years than in the later years. Downward-sloping curves are less common and often are the result of severe near-teen stress in the financial markets.

A is incorrect because a flat credit curve implies a constant hazard rate (relevant probability of default). B is incorrect because an upward-sloping credit curve implies a greater probability of default in later years.

credit curve是因公司而异的吧?如果这只债券是非常非常优质的公司发行的(例如铁道债、国开债),是不是也不会导致信用风险曲线是inverted?

这道题目没有说明发行主体,所以是不是有可能是upward sloping?

辛苦老师讲解一下!谢谢!

0 个答案