Rating
A judgment by a rating agency as to the credit quality of a bond.
bond-basics
Downgrade (Ratings)
The lowering of a Rating by a Rating Agency. Lower Ratings indicate lower credit quality.
See Also
In Contrast To
Upgrade (Ratings)
The increasing of a rating by a rating agency. Higher ratings indicate higher credit quality.
Start with the Bond Basics
Hundreds of Terms and Concepts
Volume Cap
A requirement contained in Section 146 of the Code that private activity bonds (PAB) (with certain exceptions) issued as tax-exempt bonds obtain an allocation of volume cap from the state in which the project is located prior to the issuance of the bonds.