二十冶资产证券化产品发行情况及信用风险分析

打开文本图片集

摘 要：分析二十冶业务发展情况和财务状况，指出其自身信用风险特征及发行资产证券化产品的必要性；进一步分析二十冶资产证券化产品发行情况及信用风险特征，说明其基础资产及现金流概况、参与机构情况以及其增信措施，为相关行业企业发行资产证券化产品提供参照样本。

关键词：二十冶；资产证券化；信用风险

ANALYSIS OF CHINA 20TH METALLURGICAL GROUP CO.， LTD. ASSET-BACKED SECURITIES PRODUCT ISSUANCE AND CREDIT RISK

Zheng Yuefei Jin Yuelin

（Guangzhou Philomax Credit Evaluation Co.， Ltd. Guangzhou 510000，China）

Abstract：Analyze the business development and financial status of the 20th Metallurgical Corporation， and point out its own credit risk characteristics and the necessity of issuing asset-backed securities products; This paper further analyzes the issuance and credit risk characteristics of the asset-backed securities products of the 20th Metallurgical Corporation， and explains the overview of its underlying assets and cash flows， the situation of participating institutions and its credit enhancement， so as to provide a reference sample for enterprises in related industries to issue asset-backed securities products.

Key words： 20th metallurgical; asset-backed securities; credit risk

0 前 言

我国资产证券化起源于2005年，2014年改为备案制后，发行速度逐步加快、业务主体逐渐扩展，发行规模实现快速增长。（剩余2729字）