| After the tax reform, the local government took a variety of financing ways, the main way is the local government financing platform, the city investment company is one of the most important local government financing platform. The issue of bonds become a major financing way because of its ease. City bonds are characterized by high interest rates and credit for debt, so in the past 20 years has been widely popular with the market investors, but because of the change of the international economic situation, starting from 2011, debt prices become extremely unstable, collapse, caused a panic in the market at all levels, investors begin to pay close attention to city debt credit risk.TM is a representative of the prefecture level city investment company in China, this paper first discusses the present situation of our city for debt, take the example of TM city for debt, debt risks on the TM city especially credit risk analysis, pointed out that the credit risk to the TM mainly comes from the local government, its own risk, policy risk, and expounds the TM for credit risk faced by the implementation of repayment plans and measures to guarantee, and put forward the resolve for three source of risk represented by TM debt measures of credit risk in our country, hope to bring to the city for the bond market participants and more in-depth understanding of the credit risk, also gave TM warning at the same time, governments at all levels in the city for debt, should be raised by rational planning, reasonable of building projects, ensure service can achieve economic and social benefits of funds, the flow of positive supervision to raise money to prevent the happening of the credit risk. |
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