These are Standard & Poor’s ratings for debt, and the company’s definition for each rating.
Ratings below can have a “plus” or “minus.” The U.S. rating was lowered from AAA to AA+.
AAA ? Extremely strong capacity to meet financial commitments. Highest Rating.
AA ? Very strong capacity to meet financial commitments.
A ? Strong capacity to meet financial commitments, but somewhat susceptible to adverse economic conditions and changes in circumstances.
BBB ? Adequate capacity to meet financial commitments, but more subject to adverse economic conditions.
BBB- ? Considered lowest investment grade by market participants.
BB+ ? Considered highest speculative grade by market participants.
BB ? Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions.
B ? More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments.
CCC ? Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments.
CC ? Currently highly vulnerable.
C ? Currently highly vulnerable obligations and other defined circumstances.
D ? Payment default on financial commitments.
