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Difference between bond rating and issuer rating?

Personal Finance & Money Asked by raeo on February 23, 2021

what is the difference between a BOND rating and the rating of the ISSUER of the bond?

Are they the same thing? Or can they be different? And which one is mostly looked at?

I’m thinking they might be different since the same issuer may issue different bonds, and those different bonds may be differently rated than the issuer, since e.g. if the issuer defaults, maybe it only pays back on one of the bonds and not the other.

Therefore, Issuer might have rating CCC, its 1st bond might have rating CCC+, and its second bond might have rating CCC-. Catch my drift?

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