QuadCapital Advisors - Your Source for Credit Finance

Rating Agency Credit Scale

Moody's	S&P	Fitch	NAIC*
Aaa	AAA	AAA	1	Investment Grade
Aa1	AA+	AA+	1
Aa2	AA	AA	1
Aa3	AA-	AA-	1
A1	A+	A+	1
A2	A	A	1
A3	A-	A-	1
Baa1	BBB+	BBB+	2
Baa2	BBB	BBB	2
Baa3	BBB-	BBB-	2
Ba1	BB+	BB+	3	Non Investment Grade
Ba2	BB	BB	3
Ba3	BB-	BB-	3
B1	B+	B+	3
B2	B	B	3
B3	B-	B-	3
*National Association of Insurance Commissioners

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