Which of the Below Statements Is FALSE

Which of the below statements is FALSE?

A) In the United States, the U.S. Treasury issues fixed-rate bonds and bonds (Treasury Inflation Protection Securities) whose coupon rate is indexed to the rate of inflation.
B) Obligation debt is the obligation of a country's central government.
C) Sovereign bonds are of the two general categories: economic risk (which refers to assessment of the ability of a government to satisfy its obligations) and political risk (which refers to assessment of the willingness of a government to satisfy its obligations) .
D) The reason for distinguishing between local debt ratings and foreign currency debt ratings is that historically, the default frequency differs by the currency denomination of the debt.