At the reporting date, the finance director of Nolane SA proposes to use for the pension obligation a rate of 5.2%, the yield on A-rated corporate bonds, on the grounds that they are more liquid. AA- and AAA-rated corporate bonds yield 4.3% at the reporting date. In its documented analysis, Nolane judges that only AA and AAA ratings meet the notion of high quality (entity judgement adopted for the case). Write a note that concludes on the rate to use, distinguishing rule, case facts, professional judgement and conclusion.