Daily Offerings Key:
• Interest: The annual rate that is made by investing, expressed as a percentage of principal. Interest rates are typically noted on an annual basis, known as the annual percentage yield (APY).
• YTM: Yield to Maturity. The rate of return anticipated on a bond if it is held until the maturity date, expressed at an annual rate. The calculation of YTM takes into account the current market price, par value, coupon interest rate and time to maturity.
• YTW: Yield to Worst. The yield to worst is calculated by making worst-case scenario assumptions on the issue by calculating the returns that would be received if provisions, including prepayment, call or sinking fund, are used by the issuer.
• Ratings: A grade given to bonds that indicates their credit quality. Private independent rating services such as Standard & Poor's, Moody's and Fitch provide these evaluations of a bond issuer's financial strength, or its the ability to pay a bond's principal and interest in a timely fashion.
| Bond Rating | Grade | Risk |
| Moody's | S&P/ Fitch |
| Aaa | AAA | Investment | Highest Quality |
| Aa | AA | Investment | High Quality |
| A | A | Investment | Strong |
| Baa | BBB | Investment | Medium Grade |
| Ba, B | BB, B | Junk | Speculative |
| Caa/Ca/C | CCC/CC/C | Junk | Highly Speculative |
| C | D | Junk | In Default |
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