Bond ratings are primarily based on the issuing firm's financial projections.

Name: Bond ratings are primarily based on the issuing firm's financial projections.
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Bond ratings are based on a variety of factors including financial projections, but also take into consideration the issuing firm's credit history, industry performance, management quality, and other factors that could impact the bond's creditworthiness.

Bond Ratings Are Primarily Based on the Issuing Firm's Financial