4 C's

4 C’s and its applications: Corporate bonds: Capacity, Character ABS: Collateral Muni: Covenant, Capacity, Charater Sovereign: Capacity, Character US gov debt is not rated. Is Muni also a gov debt?

You apply the 4C’s to everything… Municipal debt is municipal? As in state? So yes, it’s a form of government…

muni’s are rated.

Yes, I ignored some since their “weights” are light. It seems that Muni bonds have ratings, but Treasury bonds don’t.