EFTA Document EFTA01365549

rating agencies' opinions regarding their credit quality and are not a guarantee of quality. Rating agencies attempt to evaluate the likelihood that the obligor will make principal and interest payments and do not evaluate the risks of fluctuations in market value. Therefore, credit ratings may not fully reflect all of the risks of an investment. In addition. rating agencies may not make immediate changes in credit ratings in response to events that impact an obligor, so that an obligor's cu