After taking an exam, Tang Bao rarely stayed in the dormitory and turned on the TV.

The United States President Ronald Reagan and Soviet leader Mikhail Gorbachev signed the "Intermediate-Range Nuclear Forces Treaty" at the White House, and within three years from the date of the signing of the treaty, the United States and the Soviet Union will completely destroy and ban short- and medium-range missiles with a range of 500 to 1,000 kilometers and medium-range missiles with a range of 1,000 to 5,000 kilometers.

In the era of the Cold War between the United States and the Soviet Union, and the nuclear clouds were shrouded, the conclusion of this treaty has made all countries in the world breathe a sigh of relief and the earth is safer......

Watching the Soviet leaders receive attention and attention on TV, Tang Bao suddenly sighed, who would have thought that such a superpower would collapse in a few years. If he wants to run out and tell others, I'm afraid he will be considered to have escaped from a mental hospital.

It's really emotional!

Several channels were switched in a row, all of which were news about the signing of the INF Treaty between the United States and the Soviet Union.

Tang Bao was really bored with this kind of "old" news, grabbed the remote control, used it darkly, and finally found an economic news channel.

"Hey, Don, what's there to watch on TV, why don't you go out and have a good time together?" Frank had just come back and saw Tang Bao watching TV and slapped him in the back.

"Nope."

Tang Bao shook his head resolutely, where can Frank go to play, it is nothing more than a bar and nightclub, he is really a little unaccustomed to going in and out of that kind of occasion.

That kind of place is easy to relax and anesthetize people.

Maybe it's because I have been a commercial spy for a long time in my previous life, and I am used to keeping a cool head and disgusted with things that numb people's nerves......

"That's a pity!"

Frank didn't mind, as if he already knew the result, came back to change his clothes, and left in a hurry. Suddenly, he turned back and smiled, "By the way, Don, thank you for the beer." ”

Tang Bao shook his head secretly.

……

"Phoenix Investment Group launched the first phase of private placement - Phoenix Pioneer Fund low-key preparation, attracted the interest of countless individual investors and institutions, according to our reporter's understanding, in order to avoid SEC review, Phoenix Pioneer Fund has greatly increased the investment threshold, but investors are still enthusiastic, up to now, Phoenix Pioneer Fund has raised more than one billion US dollars, and the total amount of funds raised will likely reach 1.2 billion US dollars." The host made a large report on the offering of the Phoenix Pioneer Fund.

As expected.

With the launch of the Phoenix Vanguard Fund, Phoenix Investment Group will appear more and more in the public eye, and then its influence will also increase. As long as Phoenix Investment Group is not associated with Tang Bao and his Chinese background, Tang Bao is very happy to see this kind of influence expand.

After reading this news.

Tang Bao switched the channel to another economic news program, McNeil and Lyle News Hour.

"In the 'Black Monday' stock market crash storm, countless investors suffered heavy losses, even went bankrupt and collapsed, and were burdened with huge debts, but there were also companies with outstanding performance, and the most shining of them was the Wall Street rookie - Phoenix Investment Group! How much they actually made in the stock market crash, outsiders can't know, some say a billion dollars, some say three billion, and some say more......"

"It has been nearly two months since the stock market crash, but there are still a lot of analysis and discussion on Phoenix Investment Group, and there are many angles of analysis, some analysts believe that Wall Street has given birth to a great investment company, and some people criticize Phoenix Investment Group for being opportunistic and lucky. Recently, it has made a big move again, and the first private equity launched by the outside world, the Phoenix Pioneer Fund, has been sought after by countless investors. However, the focus of our discussion today is not on this fund, but on the credit rating of Phoenix Investment Group......"

Tang Bao frowned slightly.

Phoenix Investment Group has been established for a short time, has not obtained a credit rating, Tang Bao has not invited any rating agency to rate it, he has no urgent need for financing, and he has not thought about going public in the near future, so he has not thought about the company's rating.

Lyle focused on the company's ratings, leaving Tang Bao a little confused.

"At present, Phoenix Investment Group has not obtained the credit rating of any rating agency, which has many objective factors, but its huge scale has to make investors pay attention, and everyone wants to know the credit rating status of this company clearly. To this end, our reporter visited the three major international rating agencies and obtained some information. ”

Analysts from Fitch and Moody's did not give a definite answer, but said that they were still collecting investment information from Phoenix Investment Group for further observation. Just when our reporters were feeling disappointed, we got an unexpected response at Standard & Poor's. ”

TV screen switching.

"Hello, Mr. Zars, what is your company's understanding of Phoenix Investment Group? According to your rating methodology, what kind of credit rating can Phoenix Investment Group achieve? The reporter asked straight to the point.

"We have been tracking the company's investment activity and systematically evaluating it, and in the near future, a rating report will be issued. You know, investors have a right to know, Phoenix Investment Group didn't ask us to rate him, but we felt compelled to put the company in front of the public. A bearded analyst spoke to the camera.

"Can you tell us what credit rating Phoenix Investment Group is in?"

"The gap with the impression of investors is very large, which may be unexpected, and our rating committee members have had serious disagreements about this, and the final rating is B or maybe lower CCC."

What the.

Class B, Class CCC?

What a shit rating for this.

Tang Bao was not calm for a moment, the important juncture raised by the Phoenix Pioneer Fund, the rating given by Standard & Poor's was tantamount to a stab in his back.

Perhaps investors are very surprised by this rating, thinking that Phoenix Investment Group's brilliant record should at least obtain an A grade, or even the highest AAA credit rating. But I can assure you that the credit ratings given by S&P are the result of rigorous investigation and systematic analysis. ”

"In the investigation, we found that Phoenix Investment Group is not so much an investment company as a gambler, a lucky gambler. But God is not his relative, and he will not visit him every time. They invested most of their funds in the field of futures and futures indexes, adopted dozens of times leverage, and did not even hedge any risks, only knowing the size of the bet like a gambler. ”

"The proportion of investment in low-risk areas is very low, and investment in safe bonds is very limited."

"On top of that, the company's investment landscape is complex and chaotic, and so far we have not found their investment focus and company development strategy. Their president was only a fund manager of a small fund company last year and has never had experience in running a large company......"

"They don't have a partner. The ability to raise funds is also debatable......"

Wow.

The reporter was also very surprised by the answer of the S&P analysts, probably because he didn't expect the beautiful Phoenix Investment Group to have so many hidden dangers.

"We conclude that Phoenix Investment Group is very unsolvent, especially now that the U.S. stock market is volatile, and that a single investment failure could wipe out all of their money. I don't think investors would be willing to put money out of their pockets to save a crazy gambler. ”

……

Bang.

Tang Bao patted the table, his face gloomy.

He admits that Phoenix does have the same problems as S&P analysts say, and that it is still a long way from becoming a mature and stable company. But S&P unceremoniously gave a "junk" credit rating, which is really too deceitful.

Especially at this juncture, the pertinence is too obvious.

Fitch and Moody's have not said why S&P jumped out and took the initiative to give Phoenix Investment Group a "garbage" rating.