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
Borrower
The party, often called a conduit borrower or conduit obligor, borrowing bond proceeds from the issuer and, in such case, is responsible for making interest payments and repaying principal of the bonds as it becomes due.