逢考必过过过过过过 · 2020年09月07日
问题如下：
Which of the following statements regarding commercial mortgage-backed security (CMBS) is correct?
选项：
A.Call protection will improve the credit rating of CMBS.
B.Some CMBS are recourse loan.
C.Balloon payment in CMBS is credit positive for investor.
解释：
A is correct.
CMBS are no recourse loans. Balloon payment increased extension risk for investor, which is credit negative.
没有明白，call option的话不是有利于发行人，不利于投资人么？为什么会增加信用评级啊
Some CMare recourse loan. Balloon payment in CMis cret positive for investor. A is correct. CMare no recourse loans. Balloon payment increaseextension risk for investor, whiis cret negative.cret positive是什么意思？
No.PZ2017012501000012 (选择题) 来源: 原版书 A commercimortgage-backesecurity (CMBS) es not meet the bt-to-servicoverage the lolevel necessary to achieve a sirecret rating. Whiof the following features woulmost likely improve the cret rating of the CMBS? 正确答案是: A A 正确Subornation B Call protection C Balloon payments 这道。选择的就是A。而不是同样是improve the cret rating of the CMBS,为什么一个是选择Subornation，一个是选择Call protection ？
有道类似的题问哪个可以增加信用评级的，选的是 subornate，因为是内部信用增级的方式，那个题里也有 call protection，结果没有选，我就以为call protection没有improve the cret rating 的功能，结果到这个题目里，反而有improve the cret rating 的能力了？
在CMBS中的Call Protection 并不是一种option，而是一种trench是吗？
