也就是说，当穆迪将一种债务担保证券、一种公司债券和一种主权债券均评为AA级，那就意味着穆迪认为这三种债券的信用程度是相同的。

So when Moody's says a collateralized debt obligation, a corporate bond and a sovereign issue are all rated AA, the implication is that the three types of bonds are equally healthy.

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债务人希望利率维持在低水平，但储户和债券持有人需要得到保证——不会允许今天的高通胀继续存在。

Debtors are hoping that interest rates stay low, but savers and bondholders need to be reassured that today's high inflation won't be allowed to persist.

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评级机构正改变立场，下调了许多抵押债券的等级，并保证密切关注债务抵押债券。

The agencies have been shifting their ground, downgrading mortgage-backed bonds by the dozen and promising to keep a close eye on CDOs.

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