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Moody's S&P Fitch Definitions
Aaa AAA AAA Prime. Maximum Safety

Aa1 AA+ AA+ High Grade High Quality
Aa2 AA AA  
Aa3 AA- AA-  

A1 A+ A+ Upper Medium Grade
A2 A A  
A3 A- A-  

Baa1 BBB+ BBB+ Lower Medium Grade
Baa2 BBB BBB  
Baa3 BBB- BBB-  

Ba1 BB+ BB+ Non Investment Grade

Ba2 BB BB Speculative
Ba3 BB- BB-  

B1 B+ B+ Highly Speculative
B2 B B  
B3 B- B-  

Caa1 CCC+ CCC Substantial Risk

Caa2 CCC - In Poor Standing
Caa3 CCC- -  

Ca - - Extremely Speculative

C - - May be in Default

- - DDD Default
- - DD  
- D D  
- - -  

Moody’s Moody’s Investor Service1-212-553-1658
S&P Standard & Poor’s Corporation1-212-438-7307
Fitch Fitch Ratings1-212-908-0500

Important Note:
Information herein is believed to be reliable but Bondsonline Group, Inc. doesn’t warrant its completeness or accuracy.