To facilitate ease of use of CRISP’s credit rating system, a list of codes is given below to represent the overall evaluation of the issue’s credit risks.    These codes are used to summarize the general characteristics of the issuer’s creditworthiness.  A plus or minus may be assigned to indicate whether the issuer is on the bottom or higher end of a given rating category.

Credit ratings for long term issues

AAA       Debt rated ‘AAA‘ reflects strongest capacity to repay debt obligations.

AA          Debt rated ‘ AA ‘ reflects very strong capacity to repay debt obligations.

A             Debt rated ‘A’ reflects strong capacity to repay debt obligations.

BBB        Debt rated ‘ BBB ‘ reflects adequate capacity to repay debt obligations but demonstrates some vulnerability to changes in economic conditions, industry shifts and business circumstances.

BB           Debt rated ‘ BB ‘ reflects current capacity to repay debt obligations but demonstrates significant vulnerability to potential changes in economic conditions, industry shifts and business circumstances which could lead to a weakened position to repay debt.

B             Debt rated ‘ B ‘ reflects current capacity to pay debt but demonstrates impaired capacity to repay debt with potentially unfavorable changes in economic conditions, industry shifts and business circumstances.

C             Debt rated ‘C‘ reflects speculative position to repay debt.  Although the issuer might reflect some positive credit qualities its susceptibility to adverse conditions is very high and can exacerbate its already weak capacity to repay debt

D             Debt rated ‘D’ indicates default when payments on a rated obligation was paid after the due date.  This rating will also be assigned should an issuer take actions to defer payments on a loan obligation through bankruptcy petition or similar moves that will result in delayed or non-payment of principal and/or interest.