题目
Which of the following statements about credit ratings is most accurate?
选项
A.Credit ratings can migrate over time.
B.Changes in bond credit ratings precede changes in bond prices.
C.Credit ratings are focused on expected loss rather than risk of default.
答案
A
解析
： A is correct. Credit migration is the risk that a bond issuer’s creditworthiness deteriorates, or migrates lower. Over time, credit ratings can migrate significantly from what they were at the time a bond was issued. An investor should not assume that an issuer’s credit rating will remain the same from the time of purchase through the entire holding period. ： 这道题目问的是以下关于信用评级的陈述哪一项最准确？ A是正确的。信用转移是指债券发行人的信用状况恶化或降低的风险。随着时间的推移，信用评级可能会明显偏离债券发行时的水平。投资者不应假设发行人的信用评级从购买时起至整个持有期间保持不变。