在信用风险加速释放的背景下,市场情绪趋于高度谨慎,精耕细作、慎选标的成为信用债投资的首要法则。2016年伊始,伴随着层出不穷的业绩亏损预告,信用风险事件再次集中涌现:13山水MTN1实质性违约,15山水SCP002按期兑付基本无望,13宁徳SMEC-NI1001、13青岛SMECN1则被迫代偿,山东山水、庆华能源、黑牛食品等多家发行人被降级,还有沈阳煤业、国电环保、冀东水泥等公司被列入信用评级观察名单…… In the context of accelerating the release of credit risk, the market sentiment tends to be highly cautious. Intensive and meticulous selection has become the primary law of credit debt investment. At the beginning of 2016, along with an endless stream of advance notice of loss of performance, the credit risk incident reemerged once again: 13 Shanshan MTN1 substantive default, 15 Shanshang SCP002 redemption basically hopeless, 13 Ningde SMEC-NI1001,13 Qingdao SMECN1 were forced to compensate, Shandong Shanshui, Qinghua Energy, Black Cat Food and many other distributors were downgraded, as well as Shenyang Coal, State Power Environmental Protection, Jidong Cement and other companies were included in the credit rating watch list ...