第一个是对于一般性或偏爱的证券等级的称号。
The first is a designation for a 'class' of common or preferred stock.
批评家指出：这让它们陷于矛盾，因为它们有给证券发行客户其所需等级以便赢得回头客的动机。
This leaves them conflicted, say critics, as they have an incentive to give the issuer-client the rating it wants so as to win repeat business.
这个规则要求基金购买高等级的证券，并且是根据自己的勤奋工作来稽查证券的质量，而不仅仅依赖于信用等级。
The rules require funds to buy high-quality securities - and to ascertain that quality through their own due diligence, rather than relying only on credit ratings.
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