255 companies have terminated their rating since the beginning of this year, and the gap in debt market information urgently needs to be filled.

Wind data shows that as of July 8, this year, 255 bond-issuing companies have terminated their ratings, a slight increase compared to the previous year. Behind this phenomenon, there are both companies that have normal exits due to bond maturity or strategic adjustments, as well as proactive "abandonment" to avoid downgrade risks and conceal credit risks. With the increasing lack of this important source of information, investors are facing exacerbated information asymmetry issues, and relevant bonds are at risk of being removed from asset pools and widening spreads in the secondary market. Against the backdrop of regulatory authorities focusing on rating quality, how to plug the loopholes behind "termination of ratings" and establish a long-term credit monitoring mechanism has become a key issue in maintaining the healthy development of the bond market.