If a government participates in a bond pool investing in securities guaranteed by the U.S. government, what credit rating needs to be disclosed?

When a government participates in a bond pool that invests in securities guaranteed by the U.S. government, the relevant credit rating that needs to be disclosed is the credit rating of the bond pool itself. This disclosure is important because it provides investors and stakeholders with an understanding of the creditworthiness and risk profile associated with the bond pool as an investment option.

The credit rating of the pool reflects the collective assessment of the securities within it and any management or operational risks associated with the pooling entity. While the underlying securities' credit ratings may be strong, as they are guaranteed by the U.S. government, the pool's credit rating is what directly affects the investor's decision making related to that specific investment vehicle. Thus, highlighting the bond pool's credit rating is crucial for transparency and maintaining informed investor relations.