QUESTION (a) S&P Global Ratings (previously Standard & Poor's) is an American credit rating agency a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely principal and interest payments and the likelihood of default. Explain any FOUR (4) rating scale by S&P Global Ratings. (4 marks) (b) Mah Sing Corporation issue bond with $1,000 par value and pays 10 percent coupon rate. The bond has 12 years remaining to its maturity date. If interest is paid semi-annually, find the value of the bond when the required return is i. 7 percent. (6 marks) ii. 8 percent (6 marks) iii. 10 percent. (6 marks) iv. Indicate for each case above (a-c) whether the bond is selling at discount, premium or at its par value