05/09/2010 02:10 HKT     Hong Kong   Quick Link What's New? HK Shares Trading Stock Options Trading HK Futures Trading US Shares Trading My Portfolio Account Maintenance Contact Us Site Map Online Demo     Bonds       Bond Ratings         Below is the table of credit ratings given by three major agencies in the market. Please note that the top rating given by S&P and Moody's is AAA and Aaa accordingly. Most of the rating agencies have their finer gradation within each rating level. S&P and Fitch IBCA use suffix "+" or "-" to show a finer gradation of their ratings whilst Moody's applies numerical modifiers 1, 2 or 3 (modifier 1 indicates that the issue ranks in the higher end of its generic rating category).         Credit Ratings - Long Term Debts         Credit Risk Moody's Standard & Poor's Fitch IBCA   INVESTMENT GRADE         Highest quality Aaa AAA AAA   High quality (very strong) Aa1 AA+ AA+   High quality (very strong) Aa2 AA AA   High quality (very strong) Aa3 AA- AA-   Upper medium grade (strong) A1 A+ A+   Upper medium grade (strong) A2 A A   Upper medium grade (strong) A3 A- A-   Medium grade Baa1 BBB+ BBB+   Medium grade Baa2 BBB BBB   Medium grade Baa3 BBB- BBB-   NON - INVESTMENT GRADE         Lower medium grade (somewhat speculative) Ba BB BB   Low grade (speculative) B B B   LOW GRADE         Poor quality (may default) Caa CCC CCC   Highly speculative Ca CC CC   Extremely poor prospects C C C   In default C D D                 About Sun Hung Kai Financial  |  Help  |  Contact Us  |  Financial Glossary  |  Disclaimer  |  Subscription Agreement  |  Important Anti-Fraud Information  |  My PC Settings Copyright © 2010 Sun Hung Kai & Co. Limited. All rights reserved.