nonrated bonds

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Nonrated Bonds

Bonds with issuers that have not received a credit rating from one or more of the major credit rating agencies. A bond may be nonrated for a number of reasons, including simply not wishing to pay the fee to the credit rating agency. A nonrated bond is not necessarily risky, but they cannot be investment-grade.

nonrated bonds

See not rated.
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We exclude perpetual bonds, nonrated bonds, bonds with credit enhancements, and bonds issued by subsidiaries of parent companies.
For nonrated bonds, 2.12 percent of the issues sold during the same time period defaulted, representing 1.93 percent of the volume.
(2) Nonrated bonds the base case (the Portland dummy variable picks up the effect of the state's only Aaa without enhancement, along with Portland's nonrated bonds).