It's a billion-dollar business, but most of it goes to the major-league-affiliated teams (Class A, AA and AAA), which break even only by dint of help from their major league parents.

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The Bear Stearns fund performance "reflects the unprecedented declines in the valuations of a number of highly rated (AA and AAA) securities, " Bear Stearns told investors in a letter circulated late Tuesday.

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Everyone knows August was a volatile month after the downgrade of U.S. credit from AAA to AA on Aug. 5.

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On Friday Ambac saw its crucial financial strength rating cut to "AA" from "AAA" and the bond insurer's plight is likely to have far-flung effects.

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The sophisticated design makes charging batteries foolproof since up to four multiple-sized batteries (AAAA, AAA, AA, C, D, 9 Volt, and lantern batteries), can be charged simultaneously.

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Currently, 80 percent of the bonds issued in China are backed by State credit and most of the rest come from large companies that have AAA or AA ratings.

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Plus, world trade is conducted in dollars, so long as the dollar remains the global benchmark currency, going from AAA to AA and maybe even AA- someday will unlikely impact demand for U.S. government bonds.

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Many mutual funds and sovereign wealth funds (SWF) would instantly be forced to either change their investing covenants from AAA-only, to allow for the purchase of AA bonds.

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The IOUs were rated AAA but yielded 100 basis points (that is, a full percentage point) more than comparable maturity AA-rated corporates at the time.

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