Global Credit Rating
| Rating Agency | Current Rating | Last Evaluation Date |
|---|---|---|
| Moody's | Baa3 (Stable) | April 2007 |
| S&P | BBB- (Stable) | April 2007 |
Rating Definitions of Moody's and S&P
Moody's has 9 rating categories from Aaa to C and S&P has 10 rating categories from AAA to D. Ratings from Aaa to Baa are considered investment-graded by Moody's and ratings from AAA to BBB are considered investment-graded by S&P.
When rating agencies evaluate a credit rating, they also attach a rating outlook to each rating. "Positive" means that a rating may be raised, "Negative" means that a rating may be lowered, and "Stable" means that a rating is not likely to change.
| Classification | Moody's | S&P | Definition |
|---|---|---|---|
| Investment Grade | Aaa | AAA | Highest quality |
| Aa | AA | High quality (very strong) | |
| A | A | Upper medium grade (strong) | |
| Baa | BBB | Medium grade | |
| Non Investment Grade | Ba | BB | Lower medium grade (somewhat speculative) |
| B | B | Low grade (speculative) | |
| Caa | CCC | Poor quality (may default) | |
| Ca | CC | Most speculative | |
| C | C | No interest being paid or bankruptcy petition filed | |
| D | In default |
※ The ratings from Aa to Ca by Moody's may be modified by the addition of a 1, 2 or 3 to show relative standing within the category. Ratings from AA to CC by S&P may be modified by the addition of a plus or minus sign to show relative standing within the category.
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