Bond Rating (Moody's)
Legend:Moody's - Definitions of Bond Ratings - Long-Term Obligation Ratings
Moody’s long-term ratings are opinions of the relative credit risk of financial obligations with an original maturity of one year or more. They address the possibility that a financial obligation will not be honored as promised. Such ratings use Moody’s Global Scale and reflect both the likelihood of default and any financial loss suffered in the event of default.
Since October 1996 Moody's has applied numerical modifiers 1, 2, and 3 in each generic rating classification from Aa to B. (see Moody's Expanded Public Finance Rating Symbols chart below). The modifier 1 indicates that the issue ranks in the higher end of its generic rating category, the modifier 2 indicates a mid-range ranking, and the modifier 3 indicates that the issue ranks in the lower end of its generic category.
Bond Rating (Standard & Poor's)
The general meaning of Standard & Poor's credit rating opinions:
Why it Matters: Genesee County's bond or credit rating is a measure of its financial reputation. A good credit rating enables a county to borrow money for construction projects and other needs at the most competitive rates available. This saves millions of taxpayer dollars in interest payments