Standard & Poor's Underlying Rating - SPURs


DEFINITION of 'Standard & Poor's Underlying Rating - SPURs'

A rating for a debt issue on a stand-alone basis without credit enhancements. SPURs provide ratings for the credit worthiness of municipal bonds and are only one of the types of ratings services offered by Standard & Poor's for public sector entities.

BREAKING DOWN 'Standard & Poor's Underlying Rating - SPURs'

SPURs demonstrate the credit quality of a debt issue on its own merits, without being backed by an insurer. While it involves the same level of analytical review by Standard & Poor's as issue ratings, SPURs offer financial flexibility and potential cost savings for public sector entities such as municipalities and state governments.

  1. Credit Rating

    An assessment of the credit worthiness of a borrower in general ...
  2. Bond

    A debt investment in which an investor loans money to an entity ...
  3. Bond Rating

    A grade given to bonds that indicates their credit quality. Private ...
  4. Municipal Bond

    A debt security issued by a state, municipality or county to ...
  5. Standard & Poor's - S&P

    The world's leading index provider and the foremost source of ...
  6. Creditworthiness

    An assessment of the likelihood that a borrower will default ...
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