AAA is not considered a correct word in written English, since it has no meaning
However, it is sometimes used as an abbreviation for the word "triple A", which is used to refer to a rating system for video games. An example is, "The new game has received an AAA rating from critics."
Britain had just lost its prized Aaa credit rating, following a decision by Moody's to downgrade it.
My colleague Jo Moulds is watching, and provides some of the highlights: Moritz Kraemer of Standard & Poor's defended his firm's decision to cut the US credit rating, while still maintaining a AAA rating on several eurozone countries, such as Finland.
The chancellor has repeatedly justified the cuts as a reasonable response to unprecedented debt levels and the threat from credit ratings agencies to downgrade the UK's blue-chip AAA rating.
This signalled a "slightly greater than 50% chance" that Britain would lose its AAA rating with Fitch in the next two years.
A really good risk could be graded "AAA," and then it could be traded on the bond market!
David Riley of Fitch suggested that Scotland was unlikely to be granted a AAA rating if it won independence.
According to the European Spreadsheet Risk Group, spreadsheets were behind the collapse of the Jamaican banking system in the late 1990s, and their use was key in the development of collateralised debt obligations – the financial instruments that promised sub-prime mortgages could somehow become AAA-rated investments.
Financial engineers worked their mysterious magic with these securities, turning the junkiest mortgages into high-grade, sometimes AAA-rated, securities.
Moody's Investors Service notes that, including what states owe, America's government debt will hit 100% of GDP in 2010, higher than other AAA-rated nations (see chart 3).
Since the Fed first cut rates on January 3rd, the yield on AAA-rated corporate bonds has risen by around 30 basis points.
Better, then, to start with a clean sheet at BHAC, which will handle only municipal business and plans to charge a premium for use of its unblemished AAA-rating.
