Moody's S&P Fitch
Moody's S&P Fitch
Long term
1
Short term
Long term
Short terme
Long term
Short term
Aaa AAA AAA
t
Prime
Aal AA+
A-1+ AA+
A1+
Aa2 P-l AA
A-1+
AA
A1+
High Grade Aa3
P-l
AA- AA-
A l A+
A-l A+
A l
A2 A
A-l
A Upper Medium Grade
A3
•
P-2 År A-2 A-
A2 Baal
•
P-2
BBB+
A-2
BBB+
A2
Baa2
P-3 BBB
A-3 BBB
A3
Lower Medium Grade Baa3
P-3
BBB-
A-3
BBB-
A3
Bal BB+ BB+
Non Investment Grade Speculative
Ba2 BB BB Non Investment Grade
Speculative
Ba3 BB-
B BB-
B
Bl B+
B
B+
B
*
B Highly speculativeB3 Not B- B-
Caa Prime CCC+ Substantial risks
Ca
ccc
Cccc
C Extremely speculativeC
ccc-
In default, with little prospect forrecovery
/ DDD
/ D / DD / In default
/ D