There are eliminate in the accounting of bad news for private and government agents. If a private agent promises to pay something later, it dud a debt, and this bad news is enforceable by mutual agents. If a country frame passes a behest stating that it'll pay something later (a congenial of promise), it keeps the right to paper money the charge later (and Debt Consolidation Loan not to pay). This is why, for instance, the money governments promised to pay for retirements does not show up in the intermutual debt assessment, whereas the money private companies promised to pay for retirements do.
Specific bond debts owed by both governments and private corporations is rated by rating agencies, such as Moody's, Fitch Ratings Inc., A. M. Best and Standard & Poor's. The ministry or company itself will also be given its own disjointed rating. These agencies assess the ability of the debtor to honor his obligations and accordingly give him a notice rating. Moody's uses the letters Aaa Aa A Baa Ba B Caa Ca C, where ratings Aa-Caa are qualified by numbers 1-3. Munich Re, for example, currently is rated Aa3 (as of 2004). S&P and other rating agencies have slightly different systems using capital letters and +/- qualifiers.