警惕企业债券违约  

Bond default wave

作　　者：谢玮 宋杰[1] 

机构地区：[1]《中国经济周刊》

出　　处：《中国经济周刊》2018年第22期16-25,88,共10页China Economic Weekly

摘　　要：退潮之后才知道谁在裸泳,这句话用来描述2018年中国的信用债市场恐怕是再合适不过了。＂五一＂前后,盾安控股集团爆发债务危机,其各项有息负债超过450亿元,其中包括120亿元的待偿付债券,而这家企业已连续9年跻身＂中国企业500强＂,难怪有市场人士感慨,仅看企业财务报表,难以预知其在短期内会出现偿付风险。盾安控股集团虽遭遇流动性紧张,但目前尚无债券发生违约,而更多的＂裸泳者＂已经现身。According to the incomplete statistic made by China Economic Weekly's reporter, during the first five months of the year 2018, there are 19 bond defaults, and the scale and quantity of which see a big increase from a year before. What is worse, there are also private listed companies become defaulters. Many of the enterprises involves in this round of bond default wave may not necessarily confront with operational problems, but liquidity ones. Under the background of deleveraging and tougher oversight for financial industry, companies who have borrowed too much money would probably face greater debt stress.

关 键 词：企业债券 违约 中国企业500强 企业财务报表 控股集团 偿付风险 债务危机 市场人 

分 类 号：F832.5[经济管理—金融学]