Information of Corporate Bonds
Information of Rating
|Name of Rating Agency||Rating||Rating Outlook|
|Rating and Investment Information (R&I)||A-||Stable|
Transition in Rating (R&I)
Rating Symbols and Definitions (R&I)
|AAA||Highest creditworthiness supported by many excellent factors.|
|AA||Very high creditworthiness supported by some excellent factors.|
|A||High creditworthiness supported by a few excellent factors.|
|BBB||Creditworthiness is sufficient, though some factors require attention in times of major environmental changes.|
|BB||Creditworthiness is sufficient for the time being, though some factors require due attention in times of environmental changes.|
|B||Creditworthiness is questionable and some factors require constant attention.|
|CCC||Creditworthiness is highly questionable and a financial obligation of an issuer is likely to default.|
|CC||All of the financial obligations of an issuer are likely to default.|
|D||R&I believes that all of the financial obligations of an issuer are in default.|
Plus (+) or minus (-) sign
A plus (+) or minus (-) sign may be appended to the categories from AA to CCC to indicate relative standing within each rating category. The plus and minus signs are part of the rating symbols.
A Rating Outlook is R&I’s opinion concerning the medium term prospects for Issuer Ratings and Insurance Claims Paying Ability. Rating Outlooks are either Positive, Negative, Stable or Developing.
A Positive or Negative Outlook is not a statement indicating a future change of a rating. If neither a Positive nor Negative Outlook is appropriate, a Stable Outlook is assigned. Even the rating of an issuer with a Stable Outlook may, depending on circumstances, be changed without any change of the Rating Outlook. For a rating that could be assigned either a Positive, Negative or Stable Outlook, the Outlook may be restrictively described as “Developing.”
For Issuer Ratings and Insurance Claims Paying Ability in the CCC category or lower, a Rating Outlook may not be assigned. When an Issuer Rating or Insurance Claims Paying Ability is placed on the Rating Monitor, a Rating Outlook will not be shown until it is removed from the Rating Monitor.