问题如下:
Which of the following statements regarding ratings transition matrices is least correct?
选项: Transition matrices assess rating
migrations, that is, the probability that a company starting with a particular
rating will be downgraded within the stated period.
The diagonal elements in the transition matrix beginning at the top left show the probability of ending the year with an unchanged rating.
C.Within a transition matrix, there is no transition from default to another rating.
D.The probability of a rating migration is higher for lower rated companies.
解释:
A Transition matrices assess the probability that a company’s rating will remain unchanged at the end of a stated period. Rating migration measures the probability of a change in letter rating, however it encompasses both rating upgrades and downgrades.
老师,想问下选项D,对于本身评级比较低的公司,评级转换的概率就比较大; 这个为什么呢?比如评级C 的公司从C 到A 的概率和评级B 的公司从B 到A, 是不是B 到A 概率会高点呢?(还是说这样比不合适?)