dinno007

QUOTE:

以下是引用henrypark在2008-6-10 16:24:00的发言：
should be credit spread. Not downgrade risk.

Don't agree.

Credit spread risk is related to lots of factors, such as the whole credit market.

That's why credit spread for AAA bond widened a lot since the credit crunch.

The answer is straignt forward, downgrade risk.