Spread在这里指价差（Spread is used to refer to the difference between the price that a seller wants someone to pay for a particular stock or share and the price that the buyer is willing to pay. (股票买卖的) 价差 ）；Credit spread指的是信用利差，也称为质量利差，是指除了信用等级不同，其他所有方面都相同的两种债券收益率之间的差额，它代表了仅仅用于补偿信用风险而增加的收益率。A credit spread is the difference in yield between two bonds of similar maturity but different credit quality.

信用利差的计算公式为：

信用利差=贷款或证券收益－相应的无风险证券的收益（这里的无风险证券一般指的是国债的收益率）

比如说，如果某一10年期的国库券（treasury note）享有的收益率为2.54%而某一企业债券的收益率为4.60%，那么该企业债券与国库券的利差就为206个基点。

一般而言，信用等级越高的债券，其信用利差越小。

以下为相关例句：

例1：

Applying structural approach to modeling default risk, the pricing of default risk zero-coupon bond and a credit spread term structure under incomplete information is developed.

运用违约风险评估的结构化建模方法，在信息不完全的情形下推导了风险零息票债券的定价公式，并得到了此时信用利差的期限结构。

例2：

There are many major credit derivatives types such as credit default swap, total return swap, credit default options, credit spread options and credit-linked note and so on.

信用衍生工具的主要品种有信用违约互换、总收益互换、信用违约期权、信用利差期权、信用联系票据。