问题如下图：
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解释：
讲义219页说了credit rating不叫default rating的原因就是包含LGD，为什么这里又说没有LGD？
NO.PZ2018123101000107 问题如下 Cromwell works with another analyst, George Hastings,to scuss cret scoring ancret rating mols. Hastings starts the conversationsaying, “Cret scoring mols are primarily applieto consumers or smallbusiness borrowers. In some cases, only negative information, suaslinquencies or faults, are use while other mols use a mix of factors,supayment history anrecent cret searches.” The focus of cret scoresis the probability of fault. Hastings continues, “Cret ratings, on the other han areusein the corporate ansovereign bonmarket analso for asset-backeecurities. Ratings are focuseon probability of fault. Cret ratingagencies, suStanr Poor’s, consir the loss given fault bymeans of notching, whiausts the issuer rating to reflethe priority ofclaims in the capitstructure.\"Are Hastings’s comments regarng cret scores anret ratings most likely correct? A.Yes B.No, he is incorrewith regarto cret scores. C.No, he is incorrewith regarto cret ratings. Hastings’s comments regarng both cret scores anret ratings are correct. Cret Rating因为涉及到Notching，所以POLG涉及对吗？Cret Scoring老师上课好像没有讲到是根据POLG关系，所以这个正确的应该是什么呢？
NO.PZ2018123101000107问题如下Cromwell works with another analyst, George Hastings,to scuss cret scoring ancret rating mols. Hastings starts the conversationsaying, “Cret scoring mols are primarily applieto consumers or smallbusiness borrowers. In some cases, only negative information, suaslinquencies or faults, are use while other mols use a mix of factors,supayment history anrecent cret searches.” The focus of cret scoresis the probability of fault. Hastings continues, “Cret ratings, on the other han areusein the corporate ansovereign bonmarket analso for asset-backeecurities. Ratings are focuseon probability of fault. Cret ratingagencies, suStanr Poor’s, consir the loss given fault bymeans of notching, whiausts the issuer rating to reflethe priority ofclaims in the capitstructure.\"Are Hastings’s comments regarng cret scores anret ratings most likely correct?A.YesB.No, he is incorrewith regarto cret scores.C.No, he is incorrewith regarto cret ratings.Hastings’s comments regarng both cret scores anret ratings are correct. cret score focus On Po这个描述对吗 我就是看到这个判断错的
NO.PZ2018123101000107 问题如下 Cromwell works with another analyst, George Hastings,to scuss cret scoring ancret rating mols. Hastings starts the conversationsaying, “Cret scoring mols are primarily applieto consumers or smallbusiness borrowers. In some cases, only negative information, suaslinquencies or faults, are use while other mols use a mix of factors,supayment history anrecent cret searches.” The focus of cret scoresis the probability of fault. Hastings continues, “Cret ratings, on the other han areusein the corporate ansovereign bonmarket analso for asset-backeecurities. Ratings are focuseon probability of fault. Cret ratingagencies, suStanr Poor’s, consir the loss given fault bymeans of notching, whiausts the issuer rating to reflethe priority ofclaims in the capitstructure.\"Are Hastings’s comments regarng cret scores anret ratings most likely correct? A.Yes B.No, he is incorrewith regarto cret scores. C.No, he is incorrewith regarto cret ratings. Hastings’s comments regarng both cret scores anret ratings are correct. 第一个问题 consir the loss given fault means of notching,这句话啥意思呢？第二个问题whiausts the issuer rating to reflethe priority of claims in the capitstructure，这句话，调整发行人评级为什么可以反应资本市场的求偿顺序呢？ 求偿顺序不是根据产品属性来的么，比如先是兑付优先债、然后兑付次级债，这个和评级没关系吧。不理解。
NO.PZ2018123101000107 问题如下 Cromwell works with another analyst, George Hastings,to scuss cret scoring ancret rating mols. Hastings starts the conversationsaying, “Cret scoring mols are primarily applieto consumers or smallbusiness borrowers. In some cases, only negative information, suaslinquencies or faults, are use while other mols use a mix of factors,supayment history anrecent cret searches.” The focus of cret scoresis the probability of fault. Hastings continues, “Cret ratings, on the other han areusein the corporate ansovereign bonmarket analso for asset-backeecurities. Ratings are focuseon probability of fault. Cret ratingagencies, suStanr Poor’s, consir the loss given fault bymeans of notching, whiausts the issuer rating to reflethe priority ofclaims in the capitstructure.\"Are Hastings’s comments regarng cret scores anret ratings most likely correct? A.Yes B.No, he is incorrewith regarto cret scores. C.No, he is incorrewith regarto cret ratings. Hastings’s comments regarng both cret scores anret ratings are correct. cret score模型 In some cases, only negative information表述是不是不严谨？比如讲义中给的FIscore模型包括了很多基础中性的信息，而不是负面信息，根据打分排序来评估信用质量。还是确实可以只包含负面信息？
NO.PZ2018123101000107 Rating 是用来衡量 PO还是用来衡量 LG？ 那notching 是用来得出 PO还是用来得出 LG的？
