Research On Credit Rating Quality Of China's Bond Market

With the open of relevant policy,China's bond market have a period of rapid growth,at the same time,debt defaults are frequent,we need higher information quality,rating agencies must make their rating more accurate.Therefore,we need to make a research on the quality of credit rating by the agencies of China.The text of credit rating quality mainly includes default rate text,credit spreads text and migration matrix text.Default rate text and credit spreads text mainly text on the accuracy of the rating,migration matrix text is mainly text the stability of the ratings,and default rate text is the most direct way.Because we had no actual debt default before,most of the research are adopted the alternative method,this article will use tentative data from 2010 to 2017 to text the quality of China's bond market credit rating.Firstly,we introduce the content and significance of this research.Secondly,it elaborates the theoretical basis and market situation of our research.Subsequently,we use the data of China's bond market in recent years to analysis the credit rating quality of China's bond market,at the same time we compare the rating quality of different years to verify whether the frequent default affected the quality of ratings.After tested by various means,we found that the credit rating quality of China's bond market is credible,the effect of default on the quality of the ratings are not obvious,but the credit rating agencies still need to strengthen the tracking rating.