Commercial Paper, otherwise known as CP, is an obligation issued by a corporation or a bank to finance its short term credit needs. It can be either unsecured or asset-backed. Maturities can range from 2 to 270 days. It is available in many denominations, can be either discounted or interest bearing, and usually has a small or nonexistent secondary market. It is issued by companies with high credit ratings and therefore considered to be a relatively low …
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showed last 75 words of 1054 total
…A-3B, CD2,000S&P Commercial Paper Ratings Guide Duff & PhelpsDuff 1+, Duff 1, Duff 1-Duff 2, Duff 3Duff 4Duff 5175Short-Term Ratings and Research Guide FitchF-1+, F-1F-2, F-3F-5D125Fitch Ratings Range of Likely S&P Long- Term Bond RatingAAA, AA, AA, BBBBB, B, CCC, CC, C References: Instruments of the Money Market, by Timothy Q. Cook and Robert K. Laroche, 1993 http://www.investopedia.com http://www.investorwords.com http://www.speculativebubble.com