Long description
| Moody's | S and P | Fitch | Definitions |
|---|---|---|---|
| Aaa | AAA | AAA | Prime, Maximum Safety |
| Aa1 | AA positive | AA positive | High Grade, High Quality |
| Aa2 | AA | AA | |
| Aa3 | AA negative | AA negative | |
| A1 | A positive | A positive | Upper Medium Grade |
| A2 | A | A | |
| A3 | A negative | A negative | |
| Baa1 | BBB positive | BBB positive | Lower Medium Grade |
| Baa2 | BBB | BBB | |
| Baa3 | BBB negative | BBB negative | |
| Ba1 | BB positive | BB positive | Non-investment Grade |
| Ba2 | BB | BB | Speculative |
| Ba3 | BB negative | BB negative | |
| B1 | B positive | B positive | Highly Speculative |
| B2 | B | B | |
| B3 | B negative | B negative | |
| Caa1 | CCC positive | CCC positive | Substantial Risk |
| Caa2 | CCC | Blank | In Poor Standing |
| Caa3 | CCC negative | Blank | |
| Ca | Blank | Blank | Extremely Speculative |
| C | Blank | Blank | May Be in Default |
| Blank | Blank ... |
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