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.
根据一家评级机构标准普尔投资者服务公司的统计数据，二月份美国房价下跌的速度稍稍放缓。
The pace of decline in American house prices slowed slightly in February, according to Standard & Poor’s, a rating agency.
她还呼吁创建欧洲信用评级机构，和那些为投资者评定公司和国家信用等级的大型私人评级机构竞争。
She also called for the creation of a European credit rating agency to rival large, private companies that rate the credit of companies and countries for investors.
但是我们意识到评机管制可能会误导部分投资者，使他们误解了信用评级的作用。
But we recognize that rating mandates may have prompted some investors to use ratings in ways they were never intended.
因为评级的最大受益人并非长期债券投资者，而是利用这套系统将错误评级的债务转嫁到投资人身上的华尔街公司们。
For the biggest beneficiaries of ratings have not been long-term bond investors but the Wall Street firms that used the system to foist misrated debt on them.
多数投资者曾很乐于购买CDO等产品，因为他们信任信用评级的价值。
Most investors were happy to buy products such as CDOs because they trusted the value of credit ratings.
投资者们批评评级机构的业务模式——客户可以付钱让它们对自己评级。
Investors have criticised the agencies' business model, in which a client pays the agency to rate them.
如果投资者认为该系统已经靠不住，那么人们就可能会把哪怕是轻微的评级的下调也当成经济大难将至的佐证。
If investors no longer believe that system is viable, a one notch downgrade by a credit rating agency will look like a footnote in the coming economic calamity.
不管是否评级机构真的在履行提供及时准确信用评级信息的职责方面有困难，大多数投资人也不会傻到单纯依赖评级机构的意见来做决策。
Regardless of whether the ratings agencies truly failed in their roles of providing accurate credit ratings on a timely basis, most investors would be wise not to rely solely on their opinions.
在不多案例中，评级机构下调像美国这样仍然拥有投资人信任国家，他们也一直是错误的。
And in those rare cases where rating agencies have downgraded countries that, like America now, still had the confidence of investors, they have consistently been wrong.
他的方法被从债券投资者到华尔街银行的评级机构和监管机构的各种人广泛使用。
His method was adopted by everybody from bond investors and Wall Street Banks to ratings agencies and regulators.
但有分析师认为，相对而言，极少有投资者会仅仅因为美国的评级是AA +而非aaa，而被迫抛售债券。
But analysts say relatively few investors would be forced to sell simply because the U.S. rating now is AA + rather than AAA.
鉴于向投资者告知信用风险是评级机构的职责所在，因此很难想象还会有比这更大的失职行为。
Given the rating agencies' mandate is to inform investors of credit risks, it's hard to imagine a more colossal failure.
股市投资者比美国国债持有者更容易受到惊吓，所以评级下调可能会对道指带来更大冲击。
Stock investors are more easily rattled than Treasury holders, so the downgrade might be a bigger deal for the dow.
规定银行及机构投资者可持有以及持有多少固定收益证券的法规条例依赖于相应证券的信用评级。
Rules governing the fixed income securities that banks and institutional investors can hold, and in what amounts, rely on credit ratings.
一些公司治理评级机构试图以咨询代理的身份建议投资者采取有效的行动，但最终都以失败告终。
Governance rating services, some of which have attempted to act as information agents, have also failed to effectively rouse investors to action.
这将会导致更加类似的信用评级理念，最终将使投资者失去对待信用风险可贵的异质化思维。
This could lead to more homogenized rating opinions and, ultimately, deprive investors of valuable, differentiated opinions on credit risk.
我们还采纳了新的透明度水平，使得投资者能够看到我们是如何得到评级结果的，也使得投资者能够决定是否采纳我们的评级结果并且据此作出相应的决策。
And we have embraced new levels of transparency that allow investors to see how we arrive at our ratings and to agree or disagree with our opinions and act accordingly.
评级者们就必须使投资者们信任他们的自身能力而不是依赖于他们的官方许可。
Raters would then have to persuade investors of their competence, rather than relying on a government imprimatur.
去年，由于英国公共财政的严重恶化，投资者和信用评级机构一直处于一种搁置怀疑的状态。
For the past year investors and credit-rating agencies have been living in a state of suspended disbelief as Britain's public finances have deteriorated vertiginously.
评级是投资者需要考虑的众多因素之一，也仅是影响市场走势的众多因素之一。
Ratings are one of many inputs that investors look at, and they are only one of many factors that may affect movements in the market.
该机构还称，经验丰富的投资者理解市政债券的违约可能性要比评级相同的公司债券低。
The agency argued that sophisticated investors understood that municipal issues were less likely to default than similarly rated corporate issues.
投资者的信心在周三又被撬动，评级机构标准普尔公司宣布降调西班牙的债务—这反映了对另一个欧元区信心的丢失。
Investor confidence took yet another knock on Wednesday when rating agency Standard &Poor's downgraded Spain's debt - reflecting a loss of confidence in another eurozone country.
投资者的信心在周三又被撬动，评级机构标准普尔公司宣布降调西班牙的债务—这反映了对另一个欧元区信心的丢失。
Investor confidence took yet another knock on Wednesday when rating agency Standard &Poor's downgraded Spain's debt - reflecting a loss of confidence in another eurozone country.
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