酷兔英语


The nation's three dominant credit-ratings providers have made an urgent new request of their clients: Please don't use our credit ratings.


国三大主流信用评级机构都已对客户发出新的紧急通知:请不要使用我们的信用评级。



The odd plea is emerging as the first consequence of the financial overhaul that is to be signed into law by President Barack Obama on Wednesday. And it already is creating havoc in the bond markets, parts of which are shutting down in response to the request.


总统奥巴马(Barack Obama)将在周三签署金融改革法案,使之成为法律。评级机构的奇怪请求,正是这场改革的第一个后果,并且引起了债券市场的混乱,一部分市场受影响陷入了停顿。



Standard & Poor's, Moody's Investors Service and Fitch Ratings are all refusing to allow their ratings to be used in documentation for new bond sales, each said in statements in recent days. Each says it fears being exposed to new legal liability created by the landmark Dodd-Frank financialreform law.


标准普尔(Standard & Poor's)、穆迪投资者服务公司(Moody's Investors Service)和惠誉评级(Fitch Ratings)近几天相继发表声明,不准在新发行债券的相关文件中引用它们的评级。每家公司都说,它害怕自己承担起金融改革法律带来的新的法律义务。



The new law will make ratings firms liable for the quality of their ratings decisions, effective immediately. The companies say that, until they get a better understanding of their legal exposure, they are refusing to let bond issuers use their ratings.


根据议员多德(Dodd)和弗兰克(Frank)发起的这场历史性立法,评级公司要为其信用评级的质量负责,这一条立即生效。评级公司说,在更好地理解它们面临的法律风险以前,它们不允许债券发行人使用它们的评级。



That is important because some bonds, notably those made up of consumer loans, are required by law to include ratings in their official documentation. That means the $1.4 trillion markets for mortgages, autos, student loans and credit cards, could be affected by a slowdown.


此举事关重大,因为根据法律,一些债券,特别是那些以消费贷款为基础建立起来的债券,必须要在正式文件中包含评级信息。这意味着,1.4万亿美元的房贷、车贷、助学贷款和信用卡贷款市场可能会因为债券发行放缓而受到影响。



There have been no new asset-backed bonds put on sale this week, in stark contrast to last week, when $3 billion of issues were sold. Market participants say the new law is partly behind the slowdown.


本周还没有任何新的资产支持债券出售,而在上周共发行了30亿美元,反差十分明显。市场参与者说,新法律是发行速度减缓的部分原因。



'We are at a standstill right now,' Bingham McCutchen partner Ed Gainor, who specializes in asset-backed securities.


律师事务所Bingham McCutchen专攻资产支持证券的合伙人盖诺(Ed Gainor)说,目前我们已经陷入了停顿。



Several companies are shelving their bond offerings 'indefinitely,' according to Tom Deutsch, executivedirector of the American Securitization Forum, which represents the market for bonds backed by assets such as auto loans and credit cards.


美国证券化论坛(American Securitization Forum)董事总经理多伊奇(Tom Deutsch)说,数家公司"无限期"搁置了债券的发行。美国证券化论坛代表的是资产支持债券市场。这类债券的基础资产包括汽车贷款、信用卡应收账款等。



Anusha Shrivastava
  • consequence [´kɔnsikwəns] 移动到这儿单词发声 n.结果;后果;推断 (初中英语单词)
  • financial [fi´nænʃəl] 移动到这儿单词发声 a.金融的,财政的 (初中英语单词)
  • wednesday [´wenzdi] 移动到这儿单词发声 n.星期三 (初中英语单词)
  • reform [ri´fɔ:m] 移动到这儿单词发声 v.&n.改革;改良;革除 (初中英语单词)
  • effective [i´fektiv] 移动到这儿单词发声 a.有效的;有力的 (初中英语单词)
  • contrast [´kɔntrɑ:st] 移动到这儿单词发声 n.对比 v.使对比(照) (初中英语单词)
  • partly [´pɑ:tli] 移动到这儿单词发声 ad.部分地;不完全地 (初中英语单词)
  • partner [´pɑ:tnə] 移动到这儿单词发声 n.伙伴 v.同....合作 (初中英语单词)
  • executive [ig´zekjutiv] 移动到这儿单词发声 a.行政的 n.行政官 (初中英语单词)
  • director [di´rektə] 移动到这儿单词发声 n.指导者;....长;导演 (初中英语单词)
  • response [ri´spɔns] 移动到这儿单词发声 n.回答;响应 (高中英语单词)
  • liable [´laiəbəl] 移动到这儿单词发声 a.易于...的;有责任的 (高中英语单词)
  • exposure [ik´spəuʒə] 移动到这儿单词发声 n.暴露;曝光(时间) (高中英语单词)
  • consumer [kən´sju:mə] 移动到这儿单词发声 n.消费者;用户 (高中英语单词)
  • billion [´biljən] 移动到这儿单词发声 num.万亿 (高中英语单词)
  • dominant [´dɔminənt] 移动到这儿单词发声 a.统治的;占优势的 (英语四级单词)
  • urgent [´ə:dʒənt] 移动到这儿单词发声 a.急迫的,紧急的 (英语四级单词)
  • liability [,laiə´biliti] 移动到这儿单词发声 n.责任 负债 (英语四级单词)
  • landmark [´lændmɑ:k] 移动到这儿单词发声 n.界标;里程碑 (英语六级单词)
  • notably [´nəutəbli] 移动到这儿单词发声 ad.显著地;著名地 (英语六级单词)
  • affected [ə´fektid] 移动到这儿单词发声 a.做作的;假装的 (英语六级单词)