Analyses on bond yields and risks of short-term financing bonds in unlisted state-owned enterprises

This paper analyzes main factors that affect yield rates and risks of short-term financing bonds in Huainan Mining Group by KMV model and SHIBOR standard. The result indicates a smaller credit risk, a potential increase of the interest risk and a smaller liquidity risk as well. In addition, other risks like safety risk, guarantee risk and environmental protection policy risk are also significant factors for investors and the management.