Application Analysis On Bond Credit Rating System Of Mining Machinery Manufacturing Industry

The coal industry is the basic industry of the national economy. Thecoal machinery manufacturing industry is the key link and basis of thedevelopment of the Coal mining and washing industry, hailed as the "engine" ofthe construction of the mechanical mining. As one of strategic new industries,its development and innovation must have enough money to support. As theenterprise financing bond financing is one of the important channels, to acertain extent, solve the enterprise fund predicament. The exhaustive andaccurate assessment of bond credit rating must be based on a bond rating system,which is more reasonable, scientific and measurable.This Paper does some research on the index System which is the key pointof the bond credit rating. The index system of bond credit rating for industrialmanufacture analyses manufacturing industry status, their own comprehensivestrength of enterprises, quality management, financial situation and externalsupport to reveal enterprise’s solvency and bond issuance in the investmentrisk, and more objectively, scientifically, comprehensively reflect the issuanceof enterprise credit level. Then through the comparative analysis about ratingmethod, this paper chooses the probability cumulative model-logit model as aquantitative analysis tool. The paper screens and selects35main financialindexes from the index System, using SPSS to analyze the targets ofco-linearity and Logit regression. The research indicates that the Logitregression model in credit risk assessment of industrial manufacturing iseffective. Its average accuracy is91.6%. Through comparing the assessment results of Logit model and index system, show the validation of miningmachinery manufacturing bond credit rating index system.The paper take A coal machinery company for example, analysis of creditrating practical operation, make the abstract theory and the practice operationmerge into an organic whole, further enrich the enterprise bond credit ratingsystem, have certain reference value.