Rating scale

AAA (Extremely Strong)

AA (Very Strong)

A (Strong)


BBB (Good)

BB (Marginal)

B (Weak)


CCC (Very Weak)

CC (Extremely Weak)

SD (Selective Default)


D (Default)

R (Regulatory Supervision)

NR (Not Rated)


The ratings from 'AA' to 'CCC' may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. The rating scale above is in summary form. A full description of this rating scale can be obtained from www.standardandpoors.com