Rating
A judgment by a rating agency as to the credit quality of a bond.
bond-basics
Non-Investment Grade Bonds
High-risk debt Securities with low Ratings, if any.
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Hundreds of Terms and Concepts
Reasonably Required Reserve or Replacement Fund
A fund maintained to provide security to bondholders that does not exceed the least of (i) 10% of the stated principal amount of the bond issue (issue price if more than a de minimis amount of original issue discount or premium), (ii) the maximum annual principal and interest requirements of the bonds, or (iii) 125%…