S&P Moody's Fitch Ratings A.M. Best
Ratings Watch Action Legend: (WP) Watch Positive, (WN) Watch Negative, (WU) Watch Uncertain, (WR) Watch Removed, (OP) Outlook Positive, (ON) Outlook Negative, (OS) Outlook Stable, (OD) Outlook Developing
S&P Moody's Fitch Ratings A.M. Best
Financial Strength A (OS)
10/9/2012		 A2 (OS)
5/31/2024		 A (OS)
11/20/2023		 A(OS)
06/10/2021
Financial Strength A (OS)
10/9/2012		 A2 (OS)
5/31/2024		 A (OS)
11/20/2023		 A(OS)
06/10/2021
Financial Strength A (OS)
10/9/2012		 A2 (OS)
5/31/2024		 A (OS)
11/20/2023		 A(OS)
06/10/2021
Financial Strength A (OS)
10/9/2012		 A2 (OS)
5/31/2024		 A (OS)
11/20/2023		 A(OS)
06/10/2021
Financial Strength -
 -
 A (OS)
11/20/2023		 A(OS)
06/10/2021
Financial Strength -
 A2 (OS)
5/31/2024		 A (OS)
11/20/2023		 A(OS)
7/7/2022
Financial Strength A (OS)
10/9/2012		 A2 (OS)
5/31/2024		 A (OS)
11/20/2023		 A(OS)
06/10/2021
Financial Strength A- (OS)
7/17/2008		 -
 -
 -
Financial Strength - -
 -
 A(OS)
06/10/2021
Ratings Watch Action Legend: (WP) Watch Positive, (WN) Watch Negative, (WU) Watch Uncertain, (WR) Watch Removed, (OP) Outlook Positive, (ON) Outlook Negative, (OS) Outlook Stable, (OD) Outlook Developing
Long-Term Ratings   
Fitch
  • Highest Credit Quality
    AAA AAA(EXP) AAApre
  • Very High Credit Quality
    AA+ AA+(EXP) AA AA(EXP) AA- AA-(EXP)
  • High Credit Quality
    A+ A+(EXP) A A(EXP) A- A-(EXP)
  • Good Credit Quality
    BBB+ BBB+(EXP) BBB BBB(EXP) BBB- BBB-(EXP)
  • Speculative
    BB+ BB+(EXP) BB BB(EXP) BB- BB-(EXP)
  • Highly Speculative
    B+ B+(EXP) B B(EXP) B- B-(EXP)
  • High Default Risk
    CCC+ CCC+(EXP) CCC CCC(EXP) CCC- CCC-(EXP) CC CC(EXP) C
  • Default
    DDD DD D
  • Extremely Strong
    AAA AAApi AAAt
  • Very Strong
    AA+ AA+pi AA+t AApi Aat AA AA- AA-pi AA-t
  • Strong
    A+ A+pi A+t Api At A A- A-pi A-t
  • Adequate
    BBB+ BBB+pi BBB+t BBB BBBpi BBBt BBB- BBB-pi BBB-t
  • Less Vulnerable
    BB+ BB+pi BB+t BB BBpi BBt BB- BB-pi BB-t
  • More Vulnerable
    B+ B+pi B+t B Bpi Bt B- B-pi B-t
  • Currently Vulnerable
    CCC+ CCC+pi CCC+t CCCpi CCCt CCC CCC- CCC-pi CCC-t
  • Highly Vulnerable
    CCpi CCt CC C+ C+pi C+t C Cpi Ct
  • Selective Default
    SD SDpi SDt
  • Default
    D+ D+pi D+t Dpi Dt D
  • Regulatory Supervision
    R Rpi Rt
  • Extremely Strong
    AAA AAApi AAAt
  • Very Strong
    AA+ AA+pi AA+t AApi Aat AA AA- AA-pi AA-t
  • Strong
    A+ A+pi A+t Api At A A- A-pi A-t
  • Adequate
    BBB+ BBB+pi BBB+t BBB BBBpi BBBt BBB- BBB-pi BBB-t
  • Less Vulnerable
    BB+ BB+pi BB+t BB BBpi BBt BB- BB-pi BB-t
  • More Vulnerable
    B+ B+pi B+t B Bpi Bt B- B-pi B-t
  • Currently Vulnerable
    CCC+ CCC+pi CCC+t CCCpi CCCt CCC CCC- CCC-pi CCC-t
  • Highly Vulnerable
    CCpi CCt CC C+ C+pi C+t C Cpi Ct
  • Selective Default
    SD SDpi SDt
  • Default
    D+ D+pi D+t Dpi Dt D
  • Regulatory Supervision
    R Rpi Rt
Short-Term Ratings   
  • Exceptionally High Quality
    F1+ F1+(EXP)
  • High Quality
    F1 F1(EXP)
  • Good Quality
    F2 F2(EXP)
  • Fair Quality
    F3 F3(EXP)
  • Speculative
    B B(EXP)
  • High Default Risk
    C C(EXP)
  • Default
    D D(EXP)
  • Superior
    (P)MIG 1 (P)P-1 (P)VMIG 1 MIG 1 P-1 VMIG 1
  • Strong
    VMIG 2 P-2 MIG 2 (P)VMIG 2 (P)P-2 (P)MIG 2
  • Acceptable
    (P)MIG 3 (P)P-3 (P)VMIG 3 MIG 3 P-3 VMIG 3
  • Not Prime
    NP (P)NP
  • Extremely Strong
    A-1+
  • Strong
    A-1
  • Satisfactory
    A-2
  • Adequate
    A-3
  • More Vulnerable
    B B-1 B-2 B-3
  • Highly Vulnerable
    C
  • Selective Default
    SD
  • Default
    D
  • Regulatory Supervision
    R
  • Extremely Strong
    A-1+
  • Strong
    A-1
  • Satisfactory
    A-2
  • Adequate
    A-3
  • More Vulnerable
    B B-1 B-2 B-3
  • Highly Vulnerable
    C
  • Selective Default
    SD
  • Default
    D
  • Regulatory Supervision
    R
Financial Strength Ratings   
  • Exceptionally Strong
    AAA AAAq
  • Very Strong
    AA+ AA+q AAq AA AA- AA-q
  • Strong
    A+ A+q Aq A A- A-q
  • Good
    BBB+ BBB+q BBBq BBB BBB- BBB-q
  • Moderately Weak
    BB+ BB+q BB BBq BB- BB-q
  • Weak
    B+ B+q B Bq B- B-q
  • Very Weak
    CCC+ CCC+q CCCq CCC CCC- CCC-q CCq CC Cq C
  • Distressed
    DDD DDDq DDq DD Dq D
  • Exceptional Security
    Aaa
  • Excellent Security
    Aa1 Aa2 Aa3
  • Good Security
    A1 A2 A3
  • Adequate Security
    Baa1 Baa2 Baa3
  • Questionable Security
    Ba1 Ba2 Ba3
  • Poor Security
    B1 B2 B3
  • Very Poor Security
    Caa1 Caa2 Caa3
  • Extremely Poor Security
    Ca C
  • Extremely Strong
    AAA AAApi
  • Very Strong
    AA+ AA+pi AApi AA AA- AA-pi
  • Strong
    A+ A+pi Api A A- A-pi
  • Good
    BBB+ BBB+pi BBBpi BBB BBB- BBB-pi
  • Marginal
    BB+ BB+pi BB BBpi BB- BB-pi
  • Weak
    B+ B+pi B Bpi B- B-pi
  • Very Weak
    CCC+ CCC+pi CCCpi CCC CCC- CCC-pi
  • Extremely Weak
    CCpi CC
  • Regulatory Action
    R
  • Extremely Strong
    AAA AAApi
  • Very Strong
    AA+ AA+pi AApi AA AA- AA-pi
  • Strong
    A+ A+pi Api A A- A-pi
  • Good
    BBB+ BBB+pi BBBpi BBB BBB- BBB-pi
  • Marginal
    BB+ BB+pi BB BBpi BB- BB-pi
  • Weak
    B+ B+pi B Bpi B- B-pi
  • Very Weak
    CCC+ CCC+pi CCCpi CCC CCC- CCC-pi
  • Extremely Weak
    CCpi CC
  • Regulatory Action
    R

Issuer ratings are S&P/Moody’s/Fitch respectively. A security rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization.
Copyright© 2020, Fitch Ratings, Inc., Fitch Ratings, Ltd. and its subsidiaries (“Fitch”). Reproduction of the Fitch credit ratings in any form is prohibited except with the prior written permission of Fitch. Fitch does not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and is not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of ratings. FITCH GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Fitch shall not be liable for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or profits and opportunity costs or losses caused by negligence) in connection with any use of the Fitch credit ratings. Fitch’s ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities. Fitch credit ratings do not address the market value of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice.