further1			
	(1)	(2)	(3)
VARIABLES	issbondrating_value	default	cs1
			
guarantee	0.7007***	0.0068	0.0218
	(0.0272)	(0.0103)	(0.0373)
ississuerrating_value	0.5956***	0.0095	-0.4435***
	(0.0170)	(0.0063)	(0.0300)
issbondrating_value		-0.0285***	-0.3582***
		(0.0068)	(0.0278)
Constant	-0.6887**	-0.0891	5.1766***
	(0.3096)	(0.1333)	(0.5683)
			
Observations	6,797	6,797	6,797
R-squared	0.7261	0.1192	0.6217
Controls	Yes	Yes	Yes
Province FE	Yes	Yes	Yes
Industry FE	Yes	Yes	Yes
Year FE	Yes	Yes	Yes
RatingAgency FE	Yes	Yes	Yes
Adjusted R-Squared	0.723	0.110	0.618
Robust standard errors in parentheses			
*** p<0.01, ** p<0.05, * p<0.1			
