21.   Its bond rating is among the lowest in the nation, which forces it to pay higher interest rates.

22.   Its bond rating has been reduced to junk status.

23.   Its bond rating is junk status.

24.   Lower bond ratings announced Friday can make it more expensive for the state to raise money because investors could demand higher interest payments as compensation for their increased risk.

25.   Lower bond ratings mean states must pay more in interest.

26.   Most bond ratings are issued with the consent of the entity selling the bonds.

27.   Municipalities that are charged face the prospect of possibly lower bond ratings and higher interest costs.

28.   Some of her advisers argue the administration could simply not budget a cash reserve and risk letting its bond ratings tumble for a year or so.

29.   That loan has a variety of protections for Credit Suisse, in the form of increased interest rates and collateral, if the bond rating is cut to junk.

30.   That would seem to point to booming earnings growth for Czech electric utility CEZ, the only company in eastern Europe to carry an investment-grade bond rating.