有1000亿美元的可调整级别的次级抵押债券，受益于去年10月的级别调高，但投资者们似乎依然谨慎。

With some $100 billion of adjustable-rate subprime mortgages due to reset to higher rates by October, investors are likely to remain twitchy.

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这些级别，给了投资者有关信贷素质的参考，显示了债券条款没有全部被履行的风险有多大。

This gives investors a guide as to their credit quality, which indicates the risk that the terms of the bond will not be fully honoured.

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