| Standard & Poor's | Moody's | |
|---|---|---|
| Investment Grade | ||
| Strongest/highest quality, minimal credit risk | AAA |
Aaa
|
| Strong/high quality, very low credit risk | AA | Aa |
| Upper-medium grade, low credit risk | A | A |
| Moderate credit risk | BBB | Baa |
| Sub-Investment Grade/High Yield | ||
| Speculative grade, higher credit risk | BB, B | Ba, B |
| Highly speculative, very high credit risk | CCC, CC, C | Caa, Ca |
| Default | D | C |
| Not rated or not available | NR or NA | NR or NA |
| Rating withdrawn | WD | WD |
Details
Note: Standard & Poor's ratings from A to CCC may be modified by a plus (+) or minus (-) sign to show relative standing within the rating categories. Moddy's uses numerical modifiers 1, 2, and 3 in each category: The modifier 1 indicates that the obligation falls in the higher end of its category; the modifier 2 indicates a mid-range assessment; and the modifier 3 indicates a standing in the lower end of that rating category.
Disclosure Title
Source
Disclosure
Standard & Poor's and Moody's.