The Fund uses fundamental research to seek to uncover and exploit inefficiencies in the investment - grade municipal bond market, primarily selecting investment - grade securities with a rating of at least BBB / Baa by a nationally recognized statistical rating organization such as Moody's Investors Service, Inc. or Standard & Poor's. (amgfunds.com)
Each project, at the time of its application for assistance, is required to furnish a preliminary rating opinion letter from one of the bond rating agencies identified by the Securities and Exchange Commission as a «Nationally Recognized Statistical Rating Organization,» indicating that the project's senior debt obligations have the potential to achieve an investment - grade bond rating. (transportation.gov)
The ratings issued by Nationally Recognized Statistical Rating Organizations assess the credit worthiness of a corporation's or government debt issues. (advisorshares.com)