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| ===== Moody's Ratings for Bonds ===== | ===== Moody's Ratings for Bonds ===== | ||
| - | Moody's uses letter descriptions to qualify the assets. Moody's assigns bond credit ratings of Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, with WR and NR as withdrawn and not rated. | + | Moody's uses letter descriptions to qualify the assets. Moody's assigns bond credit ratings of Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, with WR and NR as withdrawn and not rated: **WR indicates that Moody's has withdrawn their ratings** |
| For example, Aaa means that the issuer has extremely strong capacity to meet it's financial commitments. (Fitch uses AAA instead of Aaa). Some companies that have Aaa rating are Microsoft Corp and Johnson & Johnson. Some countries with Ass rating are Germany, United States, Canada, Australia and Switzerland. | For example, Aaa means that the issuer has extremely strong capacity to meet it's financial commitments. (Fitch uses AAA instead of Aaa). Some companies that have Aaa rating are Microsoft Corp and Johnson & Johnson. Some countries with Ass rating are Germany, United States, Canada, Australia and Switzerland. | ||
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| C means that an issuer has failed to pay one or more of its financial obligations (rated or unrated) when it became due. Currenty, Puerto Rico has C rating. | C means that an issuer has failed to pay one or more of its financial obligations (rated or unrated) when it became due. Currenty, Puerto Rico has C rating. | ||
| + | ===== Moody's WR ===== | ||
| + | |||
| + | > Where no rating has been assigned or where a rating has been withdrawn, it may be for reasons unrelated to the creditworthiness of the issue.\\ | ||
| + | > \\ | ||
| + | > Should no rating be assigned, the reason may be one of the following: | ||
| + | > 1. An application was not received or accepted. | ||
| + | > 2. The issue or issuer belongs to a group of securities or entities that are not rated as a matter of policy. | ||
| + | > 3. There is a lack of essential data pertaining to the issue or issuer. | ||
| + | > 4. The issue was privately placed, in which case the rating is not published in Moody's publications. | ||
| + | > \\ | ||
| + | > Withdrawal may occur if new and material circumstances arise, the effects of which preclude satisfactory analysis; if there is no longer available reasonable up-to-date data to permit a judgment to be formed; if a bond is called for redemption; or for other reasons. | ||
| + | |||
| + | Source: Moody's | ||