| Rating Agency | Current Rating | Last Evaluation Date |
|---|---|---|
| Moody's | Baa2(Negative) | October, 2011 |
| S&P | BBB-(Stable) | October, 2011 |
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.
| Classification | Moody's | S&P | Definition |
|---|---|---|---|
| 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 |