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.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Arbitrage
Profit from differences in markets. All tax-advantaged bonds are subject in one way or another to the arbitrage requirements, which are contained in Section 148 of the Code and the Treasury Regulations that go along with it.