The Commercial Bond Market Places an Informal Limit on State

The commercial bond market places an informal limit on state and local debt by rating each government's ability to pay its various obligations and

A) the rating affects interest rates, which then influence the jurisdiction's willingness to incur new debts.
B) refusing to lend money to states with poor credit ratings.
C) withdrawing the right to trade in the market to those jurisdictions with a "C" or lower rating.
D) calling on the federal courts to foreclose on those jurisdictions with outstanding debts.