(as of August 31, 2020)
An Issuer Rating is opinion of Rating and Investment Information, Inc. on an issuer's general capacity to fulfill its financial obligations.
R&I Rating Definition
|AAA||Highest creditworthiness supported by many excellent factors.|
|AA||Very high creditworthiness supported by some excellent factors.|
|A||High creditworthiness supported by a few excellent factors.|
|BBB||Creditworthiness is sufficient, though some factors require attention in times of major environmental changes.|
|BB||Creditworthiness is sufficient for the time being, though some factors require due attention in times of environmental changes.|
|B||Creditworthiness is questionable and some factors require constant attention.|
|CCC||Creditworthiness is highly questionable and a financial obligation of an issuer is likely to default.|
|CC||All of the financial obligations of an issuer are likely to default.|
|D||R&I believes that all of the financial obligations of an issuer are in default.|
Plus (+) or Minus (-) sign
The plus and minus sign may be appended to the categories from AA to CCC to indicate relative standing within each rating category. The plus and minus signs are part of the rating symbols.
A Rating Outlook is R&I's opinion concerning the medium term prospects for Issuer Ratings and Insurance Claims Paying Ability. Rating Outlooks are either Positive, Negative, Stable or Developing.
A Positive or Negative Outlook is not a statement indicating a future change of a rating. If neither a Positive nor Negative Outlook is appropriate, a Stable Outlook is assigned. Even the rating of an issuer with a Stable Outlook may, depending on circumstances, be changed without any change of the Rating Outlook. For a rating that could be assigned either a Positive, Negative or Stable Outlook, the Outlook may be restrictively described as "Developing."
For Issuer Ratings and Insurance Claims Paying Ability in the CCC category or lower, a Rating Outlook may not be assigned. When an Issuer Rating or Insurance Claims Paying Ability is placed on the Rating Monitor, a Rating Outlook will not be shown until it is removed from the Rating Monitor.