NO.PZ2020033003000089
问题如下：
Audrey and Belinda had a discussion on the risk mitigation process for a collateralized debt obligation (CDO).
Audrey: Lower-rated issues can be restructured into highly-rated debt instruments, in which way default risk is reconstituted.
Belinda: The equity tranche has the highest return and bears the little default risk.
Whose statement(s) is (are) most accurate?
选项：
A. Audrey only.
B. Belinda only.
C. Both Audrey and Belinda.
D. Neither Audrey nor Belinda.
解释：
A is correct.
考点：CDO
解析：
Audrey is correct.
Belinda is incorrect.
The equity tranche offers the highest return potential but with no certain return and bears the highest level of default risk.
如题，没懂A选项，麻烦解释一下，谢谢
