We have studied a variety of debt instruments. Bonds are unique in several significant ways, and their differences impact the reporting. What are the characteristics of bonds that make them unique? What does it mean when a bond is issued at a premium or a discount? In your response, discuss the difference between the effective and stated interest rate.

Now for the essay please answer the following question:

What group or agency provides bond rankings for investors and what are some other types of rankings we might find?