Why do the bonds have different credit ratings?

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
10th Edition
ISBN:9781337902571
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter14: Distributions To Shareholders:dividends And Share Repurchases
Section: Chapter Questions
Problem 3TCL
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Question

Why do the bonds have different credit ratings?

 

A
1 Issuer Name
2
Symbol
3 Product Subtype
4 Industry Group
5 Maturity Date
6 Coupon Rate
7 Callable
8 Coupon Type
9 Moodys Rating
10 S&P Rating
11 Trace Grade
12 Latest Sale Price
13 Latest Sale Yield
14 Latest Trade Date
15 Convertible
16 144A
17 Perpetual
Price Change #
18
19 Price Change %
20 Next Call Date
E
L
M
American Home Prods Corp
Alpharma Inc
PFE3769697 PFE3769698 PFE3769699 PFE3769700 PFE3708240 PFE3769701 PFE3769702 PFE3666215 PFE3708702 PFE3708703 PFE3708704 PFE3708705 PFE3708706 PFE3708707
CORP
CORP
CORP
CORP
CORP
CORP
CORP
CORP
SERVICE
SERVICE
SERVICE
6/1/2006
3
SERVICE
4/1/2005
5.75
N
FXPV
NR
SERVICE
4/1/2005
5.75
Y
FXPV
NR
CCC+
H
CORP
SERVICE
6/1/2006
3
N
FXPV
NR
CCC+
CORP
SERVICE
5/1/2011
8.625
N
FXPV
B3
B-
CORP
CORP
SERVICE SERVICE
5/1/2011 3/15/2027
8.625
2.125
N
Y
FXPV
FXPV
NR
NR
CORP
CORP
PHRM
SERVICE
3/1/2023 10/15/2002
7.25
6.5
N
N
FXPV
FXPV
NR
A3
A
N
FXPV
NR
CCC+
H
SERVICE
2/15/2005
7.9
N
FXPV
Baal
A
3/15/2011
6.95
N
VRGR
A1
AA
SERVICE
3/15/2004
6.125
N
VRGR
Baal
A
3/15/2006
6.5
N
VRGR
Baal
SERVICE
3/15/2011
6.95
N
VRGR
A1
AA
NR
NR
NR
A
H
H
H
H
|
H
100.01
5.84
2/24/2023
N
N
B
H
Y
10/20/2003
с
Y
Y
5/1/2005
D
Y
Y
Y
N
O
1/23/2006 1/23/2006
F
N
Y
5/1/2007
G
N
N
5/1/2007
H
Y
N
|
2.5641
2.63
J
N
N
K
N
Y
N
Z Z
N
N
N
N
N
N
N
N
Transcribed Image Text:A 1 Issuer Name 2 Symbol 3 Product Subtype 4 Industry Group 5 Maturity Date 6 Coupon Rate 7 Callable 8 Coupon Type 9 Moodys Rating 10 S&P Rating 11 Trace Grade 12 Latest Sale Price 13 Latest Sale Yield 14 Latest Trade Date 15 Convertible 16 144A 17 Perpetual Price Change # 18 19 Price Change % 20 Next Call Date E L M American Home Prods Corp Alpharma Inc PFE3769697 PFE3769698 PFE3769699 PFE3769700 PFE3708240 PFE3769701 PFE3769702 PFE3666215 PFE3708702 PFE3708703 PFE3708704 PFE3708705 PFE3708706 PFE3708707 CORP CORP CORP CORP CORP CORP CORP CORP SERVICE SERVICE SERVICE 6/1/2006 3 SERVICE 4/1/2005 5.75 N FXPV NR SERVICE 4/1/2005 5.75 Y FXPV NR CCC+ H CORP SERVICE 6/1/2006 3 N FXPV NR CCC+ CORP SERVICE 5/1/2011 8.625 N FXPV B3 B- CORP CORP SERVICE SERVICE 5/1/2011 3/15/2027 8.625 2.125 N Y FXPV FXPV NR NR CORP CORP PHRM SERVICE 3/1/2023 10/15/2002 7.25 6.5 N N FXPV FXPV NR A3 A N FXPV NR CCC+ H SERVICE 2/15/2005 7.9 N FXPV Baal A 3/15/2011 6.95 N VRGR A1 AA SERVICE 3/15/2004 6.125 N VRGR Baal A 3/15/2006 6.5 N VRGR Baal SERVICE 3/15/2011 6.95 N VRGR A1 AA NR NR NR A H H H H | H 100.01 5.84 2/24/2023 N N B H Y 10/20/2003 с Y Y 5/1/2005 D Y Y Y N O 1/23/2006 1/23/2006 F N Y 5/1/2007 G N N 5/1/2007 H Y N | 2.5641 2.63 J N N K N Y N Z Z N N N N N N N N
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