Issuer

An issuer is a legal entity that introduces a security on a market. It can be debt securities (bonds) or equity securities (shares). A company, for example, becomes an "issuer" if it offers investors shares of its own company. A state or a local authority borrowing on the bond market is also an issuer.

The issuer is sometimes rated by rating agencies, which will have consequences on its market access conditions: it will borrow at higher or lower rates depending on the quality of its financial rating.