题目
The risk that a bond’s creditworthiness declines is best described by:
选项
A.credit migration risk.
B.market liquidity risk.
C.spread widening risk.
答案
A
解析
： A is correct. Credit migration risk or downgrade risk refers to the risk that a bond issuer’s creditworthiness may deteriorate or migrate lower. The result is that investors view the risk of default to be higher, causing the spread on the issuer’s bonds to widen. ： 这道题问的是债券信用度下降的风险最好描述为： A是正确的。信用迁移风险或降级风险是指债券发行人的信用状况可能恶化或降低的风险。其结果是，投资者认为违约风险较高，导致发行人债券利差扩大。