A ratings service that investigates tax exempt bonds. It rates a bond on a scale of one to 100 according to its liquidity, that is, the ease with which it can be bought and sold. Importantly, unlike other rating services, White's Ratings does not account for the issuer's creditworthiness.
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A rating service for tax-exempt bond issues in which a relative market value index is constructed from bond trading patterns rather than from credit analysis. A bond's yield is scaled on an index of 1 to 100.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.