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Global Credit Rating


Rating AgencyCurrent RatingLast Evaluation Date
Moody's Baa3(Stable) February, 2014
S&P BBB(Negative) October, 2015


Rating Definitions of Moody's and S&P

Moody's has nine rating categories, from Aaa to C, and S&P has 10 rating categories, from AAA to D. Ratings from Aaa to Baa are considered investment-graded by Moody's, and ratings from AAA to BBB are considered investment-graded by S&P {Standard & Poor).
When rating agencies evaluate a credit rating, they also attach a "rating outlook" to each rating. "Positive" means that a rating may be raised, "Negative" means that a rating may be lowered, and "Stable" means that a rating is not likely to change.

Investment Grade Aaa AAA Highest quality
Aa AA High quality (very strong)
A A Upper medium grade (strong)
Baa BBB Medium grade
Non Investment Grade Ba BB Lower medium grade (somewhat speculative)
B B Low grade (speculative)
Caa CCC Poor quality (may default)
Ca CC Most speculative
C C No interest being paid or bankruptcy petition filed
  D In default