Word: bondses
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The bonds are one of the few issues that have a AAA rating, the top available, from both Moody's and Standard and Poor, on their own, said another local bond trader.
Bonds are rated according to how secure the investment and the institution issuing them are judged to be, and Harvard's high rating is very rare for an institution without a bank's backing.
In fact, according to local traders, it's hard to keep the gold-plated Crimson bonds in the shop.
"Sure, we pick them up for our AAA funds. They're as secure as you can get," says John Erickson of Nuveen, an investment company which buys bonds to resell through investment funds.
Issuing bonds is a good deal for Harvard because what its investors gain in security, they lose in yield, which is the money they get for holding Harvard's debt.