题目
The process of moving credit ratings of different issues up or down from the issuer rating in response to different payment priorities is best described as:
选项
A.notching.
B.structural subordination.
C.cross-default provisions.
答案
A
解析
： A is correct. Notching is the process for moving ratings up or down relative to the issuer rating when rating agencies consider secondary factors, such as priority of claims in the event of a default and the potential loss severity. ： 这道题目问的是根据不同的支付优先级，将不同发行的信用评级在发行人评级上调或下调的过程最好描述为： A是正确的。Notching是指评级机构在考虑次级因素（如违约情况下的索赔优先级和潜在损失严重性）时，相对于发行人评级上调或下调评级的过程。