Usually the lowest investment grade rating assigned to a security or insurance carrier. This rating signifies that the issuer or carrier is relatively stable with a moderate chance of default. Investors and policyholders of the rated entity are taking a low to medium risk.


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. Ba2/BB

    This is the next rating down from the highest non-investment ...
  2. A+/A1

    One of the top ratings that a ratings agency assigns to an issuer ...
  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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