题目
A credit analyst is evaluating the credit worthiness of three companies: a construction company, a travel and tourism company, and a beverage company. Both the construction and travel and tourism companies are cyclical, whereas the beverage company is non-cyclical. The construction company has the highest debt level of the three companies. The highest credit risk is most likely exhibited by the:
选项
A.construction company.
B.beverage company.
C.travel and tourism company.
答案
A
解析
： A is correct. The construction company is both highly leveraged, which increases credit risk, and in a highly cyclical industry, which results in more volatile earnings. ： 这道题目问的是一位信用分析师正在评估三家公司的信用状况：一家建筑公司、一家旅游公司和一家饮料公司。建筑和旅游公司都是周期性的，而饮料公司则是非周期性的。在这三家公司中，建筑公司的债务水平最高。最高信用风险最有可能表现在： A是正确的。这家建筑公司的杠杆率很高，增加了信用风险，而且处于一个周期性很强的行业，这会导致收益更加波动。