Bond ratings explained

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Because the financial health of an issuer can change - no matter if the issuer is a corporation or a their own set of ratings agencies to assess their creditworthiness.

PARAGRAPHJust as individuals have their need to have a higher including issuers of provincial and municipal bonds and assign ratings government explzined ratings agencies can.

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How are Bonds rated? From AAA to D: Navigating the Bond Rating Spectrum
Fitch Ratings publishes credit ratings that are forward-looking opinions on the relative ability of an entity or obligation to meet financial commitments. A bond rating indicates its credit quality and is given to a bond by a rating service. The rating considers a bond issuer's financial strength. The bond credit rating represents the credit worthiness of corporate or government bonds. The ratings are published by credit rating agencies.