CFA一级考试固定收益知识点:Notching | notching中文
Notching本意为多级别的,作为动词,也可以表示为得分。作为CFA一级固定收益中的知识点,它出现在债券评级里面,常常作为一个单独的知识点考察大家。下面我们就来学习一下这个CFA考试[1]重要知识点吧。CFA考试三个级别从2021年开始都改为机考测试,科目权重等有一定变化,CFA各级别备考都有一定的难度;如果你报考了CFA,一定要多花时间准备CFA,总结各级别CFA备考资料供CFA考生使用》》领取高顿CFA备考资料精华大礼包[2]。 2. 相关CFA知识点 Factorsaffectingrating: Fortheratingagencies,likelihoodofdefault—defaul...
Notching本意为多级别的,作为动词,也可以表示为得分。作为CFA一级固定收益中的知识点,它出现在债券评级里面,常常作为一个单独的知识点考察大家。下面我们就来学习一下这个CFA考试[1]重要知识点吧。 CFA考试三个级别从2021年开始都改为机考测试,科目权重等有一定变化,CFA各级别备考都有一定的难度;如果你报考了CFA,一定要多花时间准备CFA,总结各级别CFA备考资料供CFA考生使用》》领取高顿CFA备考资料精华大礼包[2]。2. 相关CFA知识点
Factors affecting rating:
For the rating agencies, likelihood of default—default risk—is theprimary factor in assigning their ratings. However, there are secondaryfactors as well.
These factors include the priority of payment in the event of adefault (e.g., secured versus senior unsecured versus subordinated) as well aspotential loss severity in the event of default.
Another factor considered by rating agencies is structuralsubordination, which can arise when a corporation with a holding companystructure has debt at both its parent holding company and operating subsidiaries.Debt at the operating subsidiaries will get serviced by the cash flow...