A personal credit rating can have a significant impact on an individuals life and future; the same relationship can be applied to a corporation and its bond rating. Students have learned that a bond is rated based on its credit risk. As most U.S. corporations have some kind of debt financing, what actions can a firm take to keep its bond rating as high as possible and thus positively affect the cost of its long-term financing? Do people do similar things to keep their own credit ratings high?