Betekenis van:
bond rating

Voorbeeldzinnen

1. If the rating of a bond is higher than the rating of the issuer or the issuer has no rating, the rating of the bond is applicable.’;
2. The covered bond issue shall, as a rule, have a minimum rating of ‘AA’ or equivalent, awarded by at least one of the major rating agencies.
3. Thus, the guarantee improved the prospects attaching to France Télécom's credit rating and enabled it to avoid junk-bond classification.
4. At the same rating, any corporate bond bore a risk higher than that of State bonds or bonds issued by financial companies.
5. Where an enterprise's rating falls as a result of an increased risk of insolvency, investors will demand greater remuneration and the bond issue will cost it more.
6. As mentioned above, the rating agencies downgraded France Télécom's rating during the months of June and July 2002 to just above that of junk bond, stating in their press release that the rating would have been lower still had it been based solely on France Télécom's fundamentals.
7. Mr Douste-Blazy, chairman of the commission of enquiry, said: ‘The downgrading of the company's credit rating denied it access to the bond market and hence compromised its ability to borrow’.
8. At the same rating, any corporate bond bore a risk higher than that of State bonds or bonds issued by financial companies. Postal saving certificates consequently could not be compared to corporate bonds, which were not issued by financial intermediaries,
9. This downgrade was nevertheless limited to a rating still qualifying as investment grade: any further downgrade would have led to the Company's debt being accorded junk-bond status, as being no longer of investment grade.
10. Whenever the short-term credit rating of the borrower of an underlying commercial mortgage loan falls below credit quality step 2 in the 9 months before a hard bullet covered bank bond matures, such borrower must post an amount of cash in euro sufficient to cover the relevant part of the covered bank bond principal payment as well as related expenses scheduled to be paid by the issuer under the covered bank bond to the liquidity cushion.
11. Postal savings certificates, which carried a State guarantee, had a risk profile much lower than that of corporate bonds, as could be seen from the fact that the internal rate of return on a State bond was always lower than that on a corporate bond with an equivalent rating.
12. In fact, the State ' s intervention had the effect of preventing any downgrading of the Company ' s credit rating to that of junk bond status, as is, moreover, clearly stated in S & P ' s press release of 12 July 2002, where the assurances provided by the State are hailed as being a key factor in France Télécom's not being reduced to junk bond status.
13. The lowest point in the downgrading of France Télécom's credit rating was reached on 24 June 2002 when Moody's downgraded the Company's rating to just above that of junk bond, thereby making it very difficult for it to refinance its debt.
14. This figure covers three separate advantages: the increase in France Télécom's rating when resorting to the bond markets; the savings made in the absence of any downgrading of the debt, the latter being dependent on the rating; and the savings made through the choice of timetable.
15. For example, one analyst has stated that, in July 2002, with a Baa3 rating the Company would have had difficulty solving its debt problem through the acquisition of new capital: ‘FT's Baa3 rating meant that it was hard to say who would buy a potential bond issue.