Wall Street: Assessing Gilt

AAA may mean the American Automobile Association to millions of Americans, but to cities, states and corporations in search of money it is a supreme symbol of solvency, the highest accolade Wall Street can bestow. Armed with that much-sought but carefully dispensed rating, a borrower can attract more investors, get by with paying lower interest rates on loans, and generally profit by the blue-chip aura that prime rating bestows in the business world.

As more and more local and state governments look to bond offerings for financing — a new record of $10.3 billion in bonds will be offered this...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!