there are a whole lot of instruments that will be available to you long-term, extradecisional, fixed rate financing will probably be the one you will most likely use. then there is also opportunity to issue short-term debt, bond anticipation notes. if you have federal grants as far as your processes, there are opportunities to leverage off that. your debt policy will provide those guidelines to determine when and under what circumstances it's best to issue those kinds of obligations. so once you have the debt policy in place, the next step is really to approach the rating agencies. they are the ones that are going to determine just how credit worthy you are. you see on the left there is a diagram of the ratings scale provided by each of the major credit agencies, moody's, standard & poor's and fitch. the best rating is a.a.a. they have gradeations of a.a., a., and b a.a.

there are a whole lot of instruments that will be available to you long-term, extradecisional, fixed rate financing will probably be the one you will most likely use. then there is also opportunity to issue short-term debt, bond anticipation notes. if you have federal grants as far as your processes, there are opportunities to leverage off that. your debt policy will provide those guidelines to determine