 |
 |
 |
|
 |
AAA |
AAA |
Principle amount payment ability is the best |
|
| AA |
AA+
AA
AA-
|
Principle amount payment ability is very outstanding but inferior to AAA to some extent
|
|
| A |
A+
A
A-
|
Principle amount payment ability is outstanding but somewhat more susceptible to external changes than in superior grades
|
|
| BBB |
BBB+
BBB
BBB-
|
Principle amount payment ability is satisfactory but a potential drop of efficiency exists in future principle amount payment
ability depending on economic circumstances and aggravation of surrounding situations
|
|
 |
BB |
BB+
BB
BB-
|
No current problem exists regarding principle amount payment, but potential speculative factors exist regarding future stability
of repayment ability
|
|
| B |
B+
B
B-
|
Speculative outlook due to lack of principle amount payment ability and interest payment is
uncertain in case of economic slump
|
|
| CCC |
CCC |
Insecure state regarding principle amount payment and very speculative outlook due to possibility of unfulfillment of obligatory debt
|
|
| CC |
CC |
More insecure compared to superior grades |
|
| C |
C |
High possibility of unfulfillment of obligatory debt repayment and no ability of principle amount payment |
|
| D |
D |
Under situation of unfulfillment of obligatory debt repayment |