二十冶資產(chǎn)證券化產(chǎn)品發(fā)行情況及信用風(fēng)險(xiǎn)分析

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摘 要：分析二十冶業(yè)務(wù)發(fā)展情況和財(cái)務(wù)狀況，指出其自身信用風(fēng)險(xiǎn)特征及發(fā)行資產(chǎn)證券化產(chǎn)品的必要性；進(jìn)一步分析二十冶資產(chǎn)證券化產(chǎn)品發(fā)行情況及信用風(fēng)險(xiǎn)特征，說明其基礎(chǔ)資產(chǎn)及現(xiàn)金流概況、參與機(jī)構(gòu)情況以及其增信措施，為相關(guān)行業(yè)企業(yè)發(fā)行資產(chǎn)證券化產(chǎn)品提供參照樣本。

關(guān)鍵詞：二十冶；資產(chǎn)證券化；信用風(fēng)險(xiǎn)

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

我國資產(chǎn)證券化起源于2005年，2014年改為備案制后，發(fā)行速度逐步加快、業(yè)務(wù)主體逐漸擴(kuò)展，發(fā)行規(guī)模實(shí)現(xiàn)快速增長。（剩余2729字）