March 22, 2017 / 2:26 AM / 4 months ago

惠誉:2017年中国结构融资市场继续扩张

9 Min Read

(The following statement was released by the rating agency) Link to Fitch Ratings' Report: 中国结构性融资季度报告——2016年第四季度 here BEIJING/HONG KONG, March 21 (Fitch) 本文章英文原文最初于2017年3月13日发布于: <a href="https://www.fitchratings.com/site/pr/1020445">Fitch: China's Structured Finance Market to Continue Expanding in 2017 惠誉评级在今日发布的最新一期中国结构融资季度报告中表示,2016年中国结构融资市场的发行量增长42%,创下8650亿人民币(1260亿美元)的最高历史记录,资产 类型的规模及广度将会在2017年继续扩大。 2016年的大幅增长主要是由于资产支持专项计划下的发行量增长了125%至4590亿人民币,因为交易所市场吸引了更多基础资产类型多样化的企业发行人。 2016年第四季度,惠誉为上和2016年第一期个人汽车贷款资产证券化信托ABS交易授予评级,该笔交易由上海汽车集团财务有限责任公司(上汽财务)发放。这是惠誉首次 为中资汽车集团旗下的财务公司、而非国际汽车金融公司的子公司或合资公司所发行的中国汽车贷款资产支持证券化交易授予评级。上和2016年第一期的优先级证券获得‘AAs f’的评级。 惠誉对其所评的汽车资产支持证券交易的评级展望均为稳定,反映出这些交易里稳定的资产表现以及强劲的信用增级水平。惠誉认为,2017年汽车贷款资产证券化领域的资产将继 续保持稳定;即使由于经济增长放缓而出现表现下滑也不会影响到评级。 2016年中国住房市场价格大幅上涨导致多种为市场降温的监管政策出台,包括限购令、提升最低贷款价值比、提升税率、以及调整利率。目前的监管措施并没有不利于住房贷款的 信用质量,惠誉认为房价上涨、城市居民可支配收入稳步增长、以及低利率环境,将继续支撑2017年个人住房抵押贷款资产支持证券化交易的稳定表现。 2016年第四季度的一大亮点是:在中国银行间市场交易商协会于2016年12月修改资产支持票据指引后,资产支持票据计划以特殊目的信托结构交易持续发行。惠誉认为,2 017年一些交易可能由资产支持专项计划向资产支持票据计划转移,因为特殊目的信托结构的资产支持票据可以更好的实现资产有效隔离,而且发行人可以在中国银行间债券市场接 触更多投资者。 该季度报告中提供了有关中国结构融资市场最新发展的数据及评论。除了对2016年第四季度市场展望的评论之外,报告中还包括对监管动态的评论、注册数据显示的准备发行的中 国证券化交易清单、以及中国汽车贷款资产支持证券化和个人住房抵押贷款资产支持证券化交易的表现。 《中国结构融资季度报告——2016年第四季度》完整版请参见<a href="https://www.fitchratings.com">www.fitchratings.com或点击本新闻稿上方链接。 联系人: Kan Zhou(周侃) 联席董事 +8610 8517 2112 惠誉(北京)信用评级有限公司 中国北京市朝阳区建国门外大街2号 中国人保财险大厦19层1903室 Grace Li(李佳蕙) 董事 +852 2263 9936 Media Relations: Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: wailun.wan@fitchratings.com. 详情参见<a href="https://www.fitchratings.com">www.fitchratings.com 注意:本新闻稿为中文译本。如有疑问,请以英文版本为准。 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. 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