A method of assessing the investment safety of a bond issue or similar form of security. Letter or number ratings are assigned by rating firms which specialize in assessing the ability of a bond issuer to repay. The highest rating is AAA, also referred to simply as "triple-A". Most municipal and utility bond issues receive fairly high ratings (A or better). Investment safety is not necessarily the same as investment quality. Typically the higher the bond rating, the lower the interest paid on the bond.

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