信用增级是资产证券化过程涉及的一个主要问题。所谓信用增级,是指运用各种有效手段,提高发行证券的信用等级,确保发行人按时支付本息的一种行为。其作用主要有两方面:一是提高所发行证券的信用级别,吸引投资者;二是能够降低融资成本。资产证券化产品在发行前一般都要通过一定的方式进行信用增级。 Credit enhancement is a major issue involved in the process of asset securitization. The so-called credit enhancement refers to the use of various effective means to raise the credit rating of securities issued to ensure that issuers pay principal and interest on time. Its role mainly in two aspects: First, to raise the credit rating of the securities issued to attract investors; the second is to reduce financing costs. Asset securitization products generally have to be promoted by certain means before they are issued.