Because if you were, you know, an AAA-rated corporation, you didn't have any problem borrowing money.
Triaxx hit the market in 2006 as an AAA-rated security that was reportedly sold to investors as having little subprime exposure.
He talked of the "structural advantages" of investing a big endowment backed by an AAA-rated university, such as allowing you to borrow at low rates when making leveraged bets.
If you buy dinner from a three-star Michelin restaurant you can be confident of getting a good meal, but today if you buy a bond from an AAA-rated borrower you can be rather less sure of getting your money back.
Before the crisis, the Basel rules provided an incentive to create AAA-rated securities (such as the infamous structured products linked to subprime mortgages), since they carried a low capital charge for banks.
The rules created an incentive for banks to hold AAA-rated securities, which require less capital to be held against them.
ECONOMIST: The unintended consequences of past financial reforms
Information must also be accurate as the credit-rating debacle shows: an AAA rating is harmful rather than helpful if it describes a CCC asset.
Those who play on Xbox 360 and Playstation 3 might rankle at the legions of new casual gamers upending an industry traditionally focused on big-budget, AAA titles.
FORBES: Survey: Almost Half of US and UK Adults Are Mobile Gamers
Because for there to be enough money for the deficit nations to borrow cheaply, there must be an AAA rating and a 30% cash-to-loan deposit, as I understand it.
All proceeds from the tournament will be given to l'Afrique Aide l'Afrique (AAA - Africa Supports Africa), an organisation that groups together 47 of Africa's 53 states.
Problem is you guys force cows to eat corn instead of grass, I even remember as a kid during my first vacations in the US when some waitress at an upscale restaurant was bragging about their AAA grade corn-feed beef steak, which was only slightly less chewy than leather.
应用推荐