Which of the following is NOT typically disclosed on a bond confirmation?

The bond confirmation document serves as a record of the transaction between the buyer and seller and includes essential information regarding the securities involved. Typically, a bond confirmation will disclose details crucial for the investor to understand the bond's features and associated risks.

The coupon rate, yield to maturity (YTM), and the bond's par price are all standard disclosures because they offer direct insight into the bond's income generation potential, overall return, and the value at which the bond is issued. These elements help investors evaluate the bond's financial characteristics and suitability for their portfolios.

In contrast, while a bond's rating provides valuable information regarding the credit quality and risk level associated with the issuer, it is not standard practice to include this rating on a bond confirmation. Ratings can be subject to change and might not reflect the most current assessment by rating agencies at the time of the transaction. Therefore, the absence of the bond's rating in the confirmation aligns with typical practices focused on detailed financial specifics to which the investor may need immediate access.

Hence, the correct answer identifies the bond's rating as typically not included in a bond confirmation, highlighting the emphasis on transaction specifics rather than ongoing credit assessments.