bond-basics

Rating Agency

A national credit agency providing an independent appraisal of the credit quality of the Issuer, the Conduit Borrower, if any, and/or the Bond Issue.  The largest Rating Agencies are S&P Global Ratings, Moody’s Investors Service, and Fitch Ratings.

Life’s a Party

Learn more about the various parties involved in a municipal securities transaction and their roles.


See Also

Rating

A judgment by a rating agency as to the credit quality of a bond.

Hudson Yards Rail Yards

Start with the Bond Basics

Loan Agreement

In a private placement, the agreement between the issuer and a lender (e.g., a bank) pertaining to the loan of the bond proceeds to the issuer. In conduit financings, the agreement between the borrower  and the issuer pertaining to the loan of the bond proceeds to the borrower.