存在的一个问题是，信用评级机构对他们投资的大部分债券都给予了 AAA 的评级。

Part of the problem is that the rating agencies were rating their securities that they were investing in as AAA, in many cases.

youdao

信用评级与国库债券的关系不大，远远不如与公司债券之间的关系。

A credit rating is far less relevant to Treasury bonds than it is to, say, a corporate bond.

youdao

而救援计划将只购买那些原有信用评级达到AAA级的债券，这一原则就把那些最差的资产排除在外。

And the scheme will buy only securities that originally had an AAA credit rating, which rules out the nastiest stuff.

youdao

Now, part of the problem is that the rating agencies were rating their securities that they were investing in as AAA, in many cases.

同时存在的一个问题是,信用评级机构对他们投资的,大部分债券都给予了AAA的评级

耶鲁公开课 - 金融市场课程节选