Standard & Poors

Moody's

Interpretation

AAA

Aaa

Extremely strong capacity to meet financial commitments.

AA

Aa2

Very strong capacity to meet financial commitments.

A

A2

Strong capacity to meet financial commitments, but susceptible to adverse conditions

BBB

Baa2

Adequate capacity to meet financial commitments, but more subject to adverse economic conditions.

BB

Ba2

Less vulnerable in the near-term but faces major ongoing uncertainties in the event of adverse business, financial and economic conditions.

B

B2

More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments.

CCC

Caa2

Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments.

CC

Currently highly vulnerable.

C-

A bankruptcy petition has been filed or similar action taken but payments or financial commitments are continued