View Ratings Scale

Long-Term Ratings

  Highest Credit Quality     AAA   AAA(EXP)   AAApre
  Very High Credit Quality     AA+   AA+(EXP)   AA   AA(EXP)   AA-   AA-(EXP)
  High Credit Quality     A+   A+(EXP)   A   A(EXP)   A-   A-(EXP)
  Good Credit Quality     BBB+   BBB+(EXP)   BBB   BBB(EXP)   BBB-   BBB-(EXP)
  Speculative     BB+   BB+(EXP)   BB   BB(EXP)   BB-   BB-(EXP)
  Highly Speculative     B+   B+(EXP)   B   B(EXP)   B-   B-(EXP)
  High Default Risk     CCC+   CCC+(EXP)   CCC   CCC(EXP)   CCC-   CCC-(EXP)   CC   CC(EXP)   C
  Default     DDD   DD   D
  Highest Quality     (P)Aaa   Aaa
  High Quality     Aa1   (P)Aa1   (P)Aa2   Aa2   Aa3   (P)Aa3
  Upper-Medium Quality     (P)A1   A1   A2   (P)A2   (P)A3   A3
  Medium-Grade Quality     Baa1   (P)Baa1   (P)Baa2   Baa2   Baa3   (P)Baa3
  Substantial Risk     (P)Ba1   Ba1   Ba2   (P)Ba2   (P)Ba3   Ba3
  High Risk     B1   (P)B1   (P)B2   B2   B3   (P)B3
  Very High Risk     (P)Caa1   Caa1   Caa2   (P)Caa2   (P)Caa3   Caa3
  Highly Speculative     (P)Ca   Ca
  Default     C   (P)C
  Extremely Strong     AAA   AAApi   AAAt
  Very Strong     AA+   AA+pi   AA+t   AApi   Aat   AA   AA-   AA-pi   AA-t
  Strong     A+   A+pi   A+t   Api   At   A   A-   A-pi   A-t
  Adequate     BBB+   BBB+pi   BBB+t   BBB   BBBpi   BBBt   BBB-   BBB-pi   BBB-t
  Less Vulnerable     BB+   BB+pi   BB+t   BB   BBpi   BBt   BB-   BB-pi   BB-t
  More Vulnerable     B+   B+pi   B+t   B   Bpi   Bt   B-   B-pi   B-t
  Currently Vulnerable     CCC+   CCC+pi   CCC+t   CCCpi   CCCt   CCC   CCC-   CCC-pi   CCC-t
  Highly Vulnerable     CCpi   CCt   CC   C+   C+pi   C+t   C   Cpi   Ct
  Selective Default     SD   SDpi   SDt
  Default     D+   D+pi   D+t   Dpi   Dt   D
  Regulatory Supervision     R   Rpi   Rt
  Exceptional     aaa
  Very Strong     aa+   aa   aa-
  Strong     a+   a   a-
  Adequate     bbb+   bbb   bbb-
  Speculative     bb+   bb   bb-
  Very Speculative     b+   b   b-
  Extremely Speculative     ccc+   ccc   ccc-   cc   c
  Default     d

Short-Term Ratings

  Exceptionally High Quality     F1+   F1+(EXP)
  High Quality     F1   F1(EXP)
  Good Quality     F2   F2(EXP)
  Fair Quality     F3   F3(EXP)
  Speculative     B   B(EXP)
  High Default Risk     C   C(EXP)
  Default     D   D(EXP)
  Superior     (P)MIG 1   (P)P-1   (P)VMIG 1   MIG 1   P-1   VMIG 1
  Strong     VMIG 2   P-2   MIG 2   (P)VMIG 2   (P)P-2   (P)MIG 2
  Acceptable     (P)MIG 3   (P)P-3   (P)VMIG 3   MIG 3   P-3   VMIG 3
  Not Prime     NP   (P)NP
  Extremely Strong     A-1+
  Strong     A-1
  Satisfactory     A-2
  Adequate     A-3
  More Vulnerable     B   B-1   B-2   B-3
  Highly Vulnerable     C
  Selective Default     SD
  Default     D
  Regulatory Supervision     R
  Strongest     AMB-1+
  Outstanding     AMB-1
  Satisfactory     AMB-2
  Adequate     AMB-3
  Speculative     AMB-4

Financial Strength Ratings

  Exceptionally Strong     AAA   AAAq
  Very Strong     AA+   AA+q   AAq   AA   AA-   AA-q
  Strong     A+   A+q   Aq   A   A-   A-q
  Good     BBB+   BBB+q   BBBq   BBB   BBB-   BBB-q
  Moderately Weak     BB+   BB+q   BB   BBq   BB-   BB-q
  Weak     B+   B+q   B   Bq   B-   B-q
  Very Weak     CCC+   CCC+q   CCCq   CCC   CCC-   CCC-q   CCq   CC   Cq   C
  Distressed     DDD   DDDq   DDq   DD   Dq   D
  Exceptional Security     Aaa
  Excellent Security     Aa1   Aa2   Aa3
  Good Security     A1   A2   A3
  Adequate Security     Baa1   Baa2   Baa3
  Questionable Security     Ba1   Ba2   Ba3
  Poor Security     B1   B2   B3
  Very Poor Security     Caa1   Caa2   Caa3
  Extremely Poor Security     Ca   C
  Extremely Strong     AAA   AAApi
  Very Strong     AA+   AA+pi   AApi   AA   AA-   AA-pi
  Strong     A+   A+pi   Api   A   A-   A-pi
  Good     BBB+   BBB+pi   BBBpi   BBB   BBB-   BBB-pi
  Marginal     BB+   BB+pi   BB   BBpi   BB-   BB-pi
  Weak     B+   B+pi   B   Bpi   B-   B-pi
  Very Weak     CCC+   CCC+pi   CCCpi   CCC   CCC-   CCC-pi
  Extremely Weak     CCpi   CC
  Regulatory Action     R
  Superior     A++   A+   A++q   A+q   A++pd   A+pd
  Excellent     A   A-   Aq   A-q   Apd   A-pd
  Very Good     B++   B+   B++q   B+q   B++pd   B+pd
  Fair     B   B-   Bq   B-q   Bpd   B-pd
  Marginal     C++   C+   C++q   C+q   C++pd   C+pd
  Weak     C   C-   Cq   C-q   Cpd   C-pd
  Poor     D   Dq   Dpd
  Under Regulatory Supervision     E   Eq   Epd
  In Liquidation     F
  Suspended     S
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