Research On Credit Rating: Motivation, Mechanism And Model Of M & A

This article focuses on credit rating od the acquisition bond, discusses the motivation, principle and mode. Current situation on the capital market by the economic environment, the development of domestic analysis and discussion of the introduction of the acquisition debt motivation, combined with the important role of the credit rating of bonds issued on the basis of analysis of the necessity of the acquisition debt credit ratings were. For the acquisition debt, the credit rating of the principles and mechanisms to sort and summarize respectively, and mechanisms for debt credit rating summary for the particularity of domestic M&A environment. Combined with China’s specific market environment, mergers and acquisitions as well as the credit rating of debt financing its own characteristics, a set of market conditions applicable to the acquisition of debt credit rating analytical framework and indicator system, in terms of indicators of empowerment and calculation method selected information entropy, group Decision and mutation weighted mathematical methods, explores the index quoted language of the available modes for the rating.Compared to existing domestic debt financing for acquisitions, research aspects of the credit rating, the paper will mergers and acquisitions, debt financing and credit rating combines new perspective, to some extent complementary domestic research financing research and acquisition debt credit rating gap between studies. Quantitative analysis and qualitative analysis methods, learn about the credit rating of the results of research experience and our theorists, practitioners developed countries, combined with the characteristics of China’s M&A debt to establish a suitable environment for the acquisition of market debt credit rating indicators and rating framework for credit rating in our study complements the theoretical system for the relevant theory, mechanism and mode of acquisition debt rating.Although developed countries can learn from the concept of the acquisition debt credit rating, but there are many differences between China’s socialist market economy and foreign market environment. Therefore, considering our special market environment, the status quo of China’s mergers and acquisitions as well as debt financing in the credit rating of their own characteristics, set up specifically for the index system and method of merger debt credit rating, will contribute to our body and acquisitions M&A business debt a more scientific and reasonable credit rating, the acquisition will also help raise funds acquirer, while actively promoting China’s credit rating industry M&A debt credit rating activities to further standardize and develop. Results of this study will be the future of China’s actual launch of M debt credit ratings play a valuable role.