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While these bonds don't carry the full faith and credit of the U.S. Government, they are guaranteed by the GSE's, and the market generally believes that these firms have an implicit guarantee of backing by the federal government.
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If the government does shut down on 1 October, as many as a third of its 2.1 million employees are expected to stop work - with no guarantee of back pay once the deadlock is resolved.
It the shutdown happens, it would be the first time in 17 years and could see more than 700,000 staff sent home on unpaid leave, with no guarantee of back pay once the deadlock is over.
In most cases of new construction, even in economically humming regions, the private sector won't take full risk; state governments must have the bonding capacity to issue some sort of minimum revenue guarantee to back up private sector investors.
The concern by some officials has been the implicit guarantee of government backing in case either company defaults on its debts, which are huge.
The high credit ratings are attributable to a perceived implicit guarantee of government backing.
Hundreds of billions in guarantees to back up money market funds and to guarantee bank deposits.
They are only as good as the guarantee of the institution backing the fund.
In the prophetic words of Barbossa, "There's never a guarantee of comin' back, but passin' on — that's certain".
Reconciliation was seen as the best guarantee of luring back more of their money, and also of stanching the steady flow of emigration.
You had to go back to Mexico and lobby a government office in your place of birth – a big deterrent for undocumented people because there was no guarantee of getting back into the US afterwards.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com