The Research On The Rating Quality Inspection Of The Chinese Rating Agencies

As the global financial tsunami which caused by the subprime crisis has just calmed down, the Europe debt crisis began to spread quickly. With the global capital market violent shake continued, international main rating agencies were blamed because its lack of the credit risk warning role in the crisis. Similarly, in the domestic capital market, domestic rating agencies had been into outlet wave also for some events, which concluding city bonds for enterprise credit level continuously rise and the ministry of railways credit level higher than China’s sovereign rating. People found, credit rating industry still has not been formed on the rating agencies ratings quality inspection method system effectively. It not only results in the credit rating agencies market credibility shortage, also have restricted the rating agencies’ playing its role in China to enhance the efficiency of capital market credit risk management. Under this background, this paper does a certain research about how to improve the quality of our country’s credit rating agencies inspection issue.The quality of results for rating inspection is the core of this paper, and the rating result is the product of the rating method to practice the operation. Therefore, this paper firstly summarized the overview of scholars in the credit risk management research achievements, and the development of the theory of credit ratings are reviewed; Secondly, in the credit rating of the basic content and main method on the basis of the introduction,this paper introduces the main rating agency rating system and the method and some brief comparative analysis; Then, this paper summarizes the main characteristics of the credit rating, and introduced the main rating quality inspection method based on the advantages and disadvantages of different summaries; Then, in this paper the main domestic rating agencies rating result factor analysis and cluster analysis of the foundation, on the clustering analysis results of quantitative analysis, and according to the analysis of the rating agencies formed the rating quality inspection results; Finally, according to the quality inspection results form the rating analysis conclusion, and targeted puts forward related suggestions.The research in this paper we found:domestic main rating agencies’overall rating quality is in a high level; its rating result can be reference for market credit risk management or the investment decision-making.