issuer's quality to meet related financial commitments is very strong considering obligor's established cash flows, highly reliable liquidity support, or demonstrated board-based access to the market for refinancing
issuer's quality to meet related financial commitments is strong but somewhere less than A.
issuer's quality to meet related financial commitments is adequate, but adverse changes in circumstances economic conditions are more likely to weaken it.
Issuer's quality to meet related financial commitments may be moderate but speculative ements. Adverse changes in circumstances and economic condition will impair credit quality
Issuer's quality to meet related financial commitments is currently highly vulnerable.
Interest payments and/or principal payment are in payment default
Principle amount payment ability is the best
Principle amount payment ability is very outstanding but inferior to AAA to some extent
Principle amount payment ability is outstanding but a potential drop of efficiency exists in future principle amount
Principle amount payment ability is satisfactory but a potential drop of efficiency exists in future principle amount payment ability depending on economic circumstances and aggravation of surrounding situations
No current problem exists regarding principle amount payment, but potential speculative factors exist regarding future stability of repayment ability
Speculative outlook due to lack of principle amount payment ability and interest payment is uncertain in case of economic slump
Speculative outlook due to lack of principle amount payment ability and interest payment is uncertain in case of economic slump
More insecure compared to superior grades
High possibility of un fulfillment of obligatory debt repayment and no ability of principle amount payment
Under situation of un fulfillment of obligatory debt repayment and bankruptcy
