NO.PZ2022101402000005
问题如下：
An analyst is estimating the cost of debt for a company with outstanding debt that is not traded. Which methods is least likely be considered for estimating the company’s cost of debt?
选项：
A.Matrix pricing
Synthetic rating
The yield to maturity (YTM)
解释：
C is correct.
A is incorrect. Matrix pricing – Identifying other debt that is publicly traded with similar features in maturity, features, and credit quality.
B is incorrect. Synthetic rating – Using the companies’ fundamentals, such as IC ratios and other leverage ratios, to estimate a credit rating class. Once a credit rating has been inferred, an analyst can simply use the YTM on bonds with a similar maturity and credit rating to estimate a cost of debt.
题目不是说这个debt不会交易，所以应该用YTM正好呀，为什么不可以用YTM呢？
