A credit rating is an independent assessment of the creditworthiness of an entity, a bond, or any similar borrowing instrument. It measures the probability of the timely repayment of principal and interest of a debt obligation by the issuer. Generally, a higher credit rating leads to a more favorable effect on the marketability of a bond, likely reducing the interest rate and the resulting debt service to the State. Long-term credit rating symbols are generally assigned with "triple A" as the highest and "triple B" (or Bbb) as the lowest in investment grade. Anything below triple B is non-investment grade, and is commonly known as a "junk bond."
Bond Ratings of New England States
As of September 2016, Vermont has the highest overall credit ratings of the New England states. The major credit rating agencies are Moody's Investors Service, S&P Global Ratings and Fitch Ratings.