- CFA Exams
- CFA Level I Exam
- Topic 6. Fixed Income
- Learning Module 29. Credit Analysis Models
- Subject 2. Credit Scores and Credit Ratings
CFA Practice Question
The issuer rating (base = 0) used by a credit rating agency is typically the issuer's ______ debt.
B. senior unsecured
C. subordinated
A. senior secured
B. senior unsecured
C. subordinated
Correct Answer: B
The ratings on other types of debt are notched up (e.g. +1 or 2) or down (e.g. -1 or 2) from the issuer rating.
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