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Rating grades
Investment Grade
| Rating Agency | S&P | Moody's | Fitch |
|---|---|---|---|
| Best Quality | AAA | Aaa | AAA |
| Strong Credit Quality | AA+ | Aa1 | AA+ |
| AA | Aa2 | AA | |
| AA- | Aa3 | AA- | |
| Upper Medium Grade | A+ | A1 | A+ |
| A | A2 | A | |
| A- | A3 | A- | |
| Medium/Low Investment Grade | BBB+ | Baa1 | BBB+ |
| BBB | Baa2 | BBB | |
| BBB- | Baa3 | BBB- |
High Yield
| Rating Agency | S&P | Moody's | Fitch |
|---|---|---|---|
| Weak/Developing Financial Grade | BB+ | Ba1 | BB+ |
| BB | Ba2 | BB | |
| BB- | Ba3 | BB- | |
| Poor Financial Grade | B+ | B1 | B+ |
| B | B2 | B | |
| B- | B3 | B- | |
| Highly Speculative Grade | CCC+ | Caa | CCC |
| CC | Ca | CC | |
| C | C | C | |
| Default | D | D | D |
Updated on 01 December 2015.