Brokers say the price implies a 40% probability of default in the next five years.
经纪商说，这个价格表示未来五年内违约的可能性为40%。
Ratings are based on the probability of default so they are absolute, not relative; in theory, all countries could default on their debts.
信用级别建立在违约可能性的基础之上，因此级别是绝对的而非相对而言的；理论上说，所有的国家都有可能违约。
But the agencies argue that their ratings are designed to measure the probability of default, not to recommend the purchase of individual securities or to predict market prices.
但是信贷机构争辩说他们的评级只能衡量违约率的可能性，而并不对个别的证券提出买进的建议，也不能预测市场价格。
Consider the relativity between Loss Given Default and Probability of Default. (5) Study on the collocation of economic capital of our country's commercial Banks combining with RAROC.
考虑违约损失率与违约概率的相关性。(5)与RAROC结合研究我国商业银行的经济资本配置方法。
Consider the relativity between Loss Given Default and Probability of Default. (5) Study on the collocation of economic capital of our country's commercial Banks combining with RAROC.
考虑违约损失率与违约概率的相关性。(5)与RAROC结合研究我国商业银行的经济资本配置方法。
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