53.
Jasper Corporation sold its receivables to another corporation, JTL, created by Jasper for that purpose. If JTL sells securities backed by the receivables, the credit rating associated with those securities will most likely be based on the:
Select exactly 1 answers from the following:
A. creditworthiness of JTL.
B. creditworthiness of Jasper.
C. collateral and credit enhancement mechanisms used.
D. allowance for doubtful accounts recorded on the consolidated balance sheet.
答案和详解如下！
Feedback: Correct answer: C
Fixed Income Analysis for the Chartered Financial Analyst Program, 2nd edition, Frank J. Fabozzi (Frank J. Fabozzi Associates, 2004), pp. 81?2 2006 Modular Level I, Vol. IV, pp. 93-95 Study Session 14-64-j define an asset-backed security, describe the role of a special purpose vehicle in an asset-backed securities transaction, state the motivation for a corporation to issue an asset-backed security, and describe the types of external credit enhancements for asset-backed securities
The rating of asset-backed securities typically is independent of the issuer or originating firm抯 credit; the rating depends on the collateral offered and the strength of any external or internal credit enhancements.
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发表于 2006-11-21 12:28
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