Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
Question
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Chapter 4, Problem 7AA
To determine

To analyze the option best suited for the blank.

Expert Solution & Answer
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Explanation of Solution

A credit rating is a quantified measure of the financial health of the creditor in general terms or in relation to a specific debt or financial responsibility. Credit ratings can be given to any organization seeking to borrow money — a person, corporation, state or provincial authority, or a sovereign government.

The credit rating of a person who has declared bankruptcy would contrast sharply with the rating of a person with good credit.

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