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S&P Global Ratings has, for years, provided credit ratings on international bonds. The ratings reflect the safety of principal for a U.S. investor. The ratings

S&P Global Ratings has, for years, provided credit ratings on international bonds.

		The ratings reflect the safety of principal for a U.S. investor.
		The ratings are biased since 40 percent of Eurobond issues are rated AAA and 30 percent are AA.
		Their ratings reflect the creditworthiness of the borrower and not exchange rate uncertainty.
		Their ratings reflect creditworthiness of the lender and predict the exchange rate expected to prevail at maturity.

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