NO.PZ2016082405000025
问题如下:
Which of the following statements regarding ratings transition matrices is least correct?
选项: A. Transition matrices assess rating
migrations, that is, the probability that a company starting with a particular
rating will be downgraded within the stated period.
B. 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.
请问b说的是什么意思?