The Urban Development Corporation of Trinidad and Tobago $($UDECOTT$)$ issued a $15-$year

$6\%$ $$500$ million bond on March $1,2016.$ The bond pays interest semi$-$annually.

$1.$ Identify the following key terms of this bond issue:

i$.$ Name of Issuer

ii$.$ Face Value of Bond

iii. Coupon Rate

iv$.$ Maturity Date

v$.$ Tenor

vi$.$ Frequency of Coupon Payments $3$ Marks

$2.$ What is the significance of credit$/$debt ratings? Assuming UDECOTT had an S&P rating of

A$+$ at the time of issue, what does this rating indicate? $3$ Marks