一、信用评级概念的产生及经济学基础1909年,约翰穆迪出版了有关铁路债券分析报告;紧随其后,普尔出版公司、标准统计公司在1922年以及惠誉出版公司分别在1916年、1922年和1924年提供债券评级服务。~①在将近100年的历史中,这几家公司经历各自的兼并组合故事,形成了目前全球三大评级公司。信用评级产生和发展的根源是,在金融市场中相关公司比投资者 First, the concept of credit rating and economics foundation 1909, John Moody’s published on the railway bond analysis report; followed by Poole Publishing Company, Standard Statistical Company in 1922 and Fitch Publishing Company respectively in 1916, Bond rating services in 1922 and 1924. ~ ① In nearly 100 years of history, these companies experienced their own merger and acquisition story, forming the world’s three major rating companies. The root cause of the credit rating generation and development is that the relevant companies in the financial markets are more than the investors