Question
The Urban Development Bank issued a 15-year 6% $500 million bond on March 1, 2016. The bond pays interest semi-annually. What is the significance of
The Urban Development Bank issued a 15-year 6% $500 million bond on March 1, 2016. The bond pays interest semi-annually. What is the significance of credit/debt ratings? Assuming the Urban Development Bank had an S&P rating of A+ at the time of issue, what does this rating indicate?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
