题目
Which factor is associated with a more favorable quality sovereign bond credit rating?
选项
A.Issued in local currency, only
B.Strong domestic savings base, only
C.Issued in local currency of country with strong domestic savings base
答案
C
解析
： C is correct. Bonds issued in the sovereign’s currency and a strong domestic savings base are both favorable sovereign rating factors. It is common to observe a higher credit rating for sovereign bonds issued in local currency because of the sovereign’s ability to tax its citizens and print its own currency. Although there are practical limits to the sovereign’s taxing and currency-printing capacities, each tends to support a sovereign’s ability to repay debt. A strong domestic savings base is advantageous because it supports the sovereign’s ability to issue debt in local currency to domestic investors. ： C是正确的。以主权货币发行的债券和强大的国内储蓄基础都是有利的主权评级因素。人们普遍认为，以本币发行的主权债券信用评级较高，因为主权国家有能力对其公民征税并印制自己的货币。尽管对主权国家的征税和印钞能力有实际限制，但每一项都增强了主权国家偿还债务的能力。强大的国内储蓄是有利的，因为它使主权国家有能力向国内投资者发行本币债券。