Rating adjustments affect bond market pricing, with multiple agencies examining their holdings of credit bonds.

The credit bond market is undergoing a repricing from "rating labels" to "real qualifications", which is having an impact on the asset management industry. According to sources within the industry, fund managers, banks, insurance companies and other institutions have recently begun to scrutinize their credit bond holdings, focusing on potential valuation fluctuations and redemption pressures that may result from rating adjustments. Industry insiders believe that with more stringent rating regulations, an increase in terminations of ratings, and more non-rated issuances, some entities with relatively high external ratings but underlying flaws may face more significant valuation pressures and liquidity tests.