Usually the second- or third-highest rating that a rating agency assigns to a security or carrier. This rating signifies that there is a relatively low risk of default because the issuer or carrier is fairly stable. Investors and policyholders are therefore taking very little risk with these companies.


The ratings assigned by the various ratings agencies are based primarily upon the insurer's or issuer's creditworthiness. This rating can therefore be interpreted as a direct measure of the probability of default. However, credit stability and priority of payment are also factored into the rating.

  1. B3/B-

    One of the lower ratings that a ratings agency assigns to a security ...
  2. B2/B

    This is generally the highest rating assigned to a non-investment ...
  3. Moody's

    An independent, unaffiliated research company that rates fixed ...
  4. Fitch Ratings

    An international credit rating agency based out of New York City ...
  5. Ratings Service

    A company, such as Moody's or Standard & Poor's, that rates ...
  6. Standard & Poor's - S&P

    The world's leading index provider and the foremost source of ...
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