Credit Rating Scale: Moody's / S&P / Fitch (AAA–D)
Long-term rating scales of the three major agencies; BBB-/Baa3 and above is investment grade, below is speculative ('junk').
| Tier | Moody's | S&P | Fitch | Category |
|---|---|---|---|---|
| Highest | Aaa | AAA | AAA | Investment grade |
| High grade | Aa1 / Aa2 / Aa3 | AA+ / AA / AA- | AA+ / AA / AA- | Investment grade |
| Upper-medium | A1 / A2 / A3 | A+ / A / A- | A+ / A / A- | Investment grade |
| Lower-medium (IG floor) | Baa1 / Baa2 / Baa3 | BBB+ / BBB / BBB- | BBB+ / BBB / BBB- | IG cutoff |
| Speculative (junk) | Ba1 / Ba2 / Ba3 | BB+ / BB / BB- | BB+ / BB / BB- | Non-investment grade |
| Highly speculative | B1 / B2 / B3 | B+ / B / B- | B+ / B / B- | Non-investment grade |
| Substantial risk | Caa / Ca | CCC / CC / C | CCC / CC / C | Non-investment grade |
| Default | C | D | D / RD | Default |
Method & sources
Compiled from U.S. SEC / Investor.gov credit-ratings investor education and public rating definitions of S&P, Moody's, Fitch. The BBB-/Baa3 investment-grade boundary follows the SEC.
Retrieved: 2026-09-05
FAQ
- What does "Credit Rating Scale: Moody's / S&P / Fitch (AAA–D)" cover?
- It covers Highest, High grade, Upper-medium, Lower-medium (IG floor), Speculative (junk), Highly speculative, Substantial risk, Default, compared across: Tier, Moody's, S&P, Fitch, Category.
- What are the sources and methodology?
- Compiled from U.
- When was this data last updated?
- The data was retrieved/updated on 2026-09-05.