The monolines' woes are already largely priced in.
债券保险商已经付出了代价。
Were the monolines to lose their top-notch ratings, they fear, many issuers could struggle to meet higher funding costs.
若这些债券保险商失去了最高的信用评级,他们担心很多债券发行商将面临更高的发行成本,这使得这些发行商难以生存。
But the rationale for the deal was undermined by the credit problems of the "monolines", which insured the sewer system's bonds.
但是,这种交易的受到“单一险种保险”公司(这类公司为这个下水道系统进行保险)的信用问题影响。
The monolines know that, by threatening to break apart, they may force Wall Street Banks to stump up the cash to keep them whole.
这些债券保险商明白得很,通过分拆的威胁,或许能迫使华尔街的银行对其注资以保全其完整。
Another bunch likely to do well are tightly focused firms that concentrate on only a few fields. Some (" monolines ") specialise in only one.
还有一些事要做好——受到密切关注的企业只着眼于几个领域,有些(单线公司)只关注一个领域。
Stanislas Rouyer of Moody’s, another ratings agency, says monolines need to emphasise that they provide not just insurance but also monitoring and surveillance capabilities.
另一家名为StanislasRouyer ofMoody’s的分级机构表示,单险种公司必须强调,他们提供的不仅是保险,还有监管能力。
With rating agencies preparing to downgrade them to levels that could destroy their business, and regulators pushing for bail-outs or break-ups, the monolines' moment of truth has arrived.
由于评级机构准备下调这些债券保险商的信用等级,这将使他们的业务遭到严重的打击。监管者也敦促他们,要不注入新的资金,要不就分折业务。
With rating agencies preparing to downgrade them to levels that could destroy their business, and regulators pushing for bail-outs or break-ups, the monolines' moment of truth has arrived.
由于评级机构准备下调这些债券保险商的信用等级,这将使他们的业务遭到严重的打击。监管者也敦促他们,要不注入新的资金,要不就分折业务。
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