Credit Ratings Footnotes
||Generally, bonds rated BBB‐(S&P and Fitch) or Baa3 (Moody’s) or better are considered by the rating agencies to be “Investment Grade” (i.e., suitable for
preservation of investment capital). Generally, bonds rated below said levels are considered by the rating agencies to be “Non‐Investment Grade”.
||“NR” – not rated.|
|***||Includes programs that have been separately bond‐financed‐for in the past (e.g., Local Highway & Bridge [CHIPs] program, State University of
New York [SUNY] Academic Facilities program, etc.) and are now replaced by PIT and Sales Tax financings.|