| Credit Rating Agency | Credit Rating | Outlook | Year |
|---|---|---|---|
| S&P | BBB+ | Positive | 2022 |
| Moody's | Baa1 | Stable | 2022 |
Credit Rating Definition
| S&P | MOODY’S | DEFINITION |
|---|---|---|
| AAA | Aaa | Judged to be of the highest quality, with minimal risk |
| AA+/AA/AA- | Aa1/Aa2/Aa3 | Judged to be of high quality and subject to very low credit risk |
| A+/A/A- | A1/A2/A3 | Considered upper medium-grade and subject to low credit risk |
| BBB+/BBB/BBB- | Baa1/Baa2/Baa3 | Subject to moderate credit risk and considered medium-grade |
| BB+/BB/BB- | Ba1/Ba2/Ba3 | Judged to have speculative elements and subject to substantial credit risk |
| B+/B/B- | B1/B2/B3 | Considered speculative and subject to high credit risk |
| CCC+/CCC/CCC- | Caa1/Caa2/Caa3 | Judged to poor standing and subject to very high credit risk |
| CC | Ca | Likely in, or very near, default, with some prospect of recovery in principal and interest |
| C | C | Expected to have lower relative seniority or lower ultimate recovery compared with obligations that are rated higher |
| D | - | In Default or in breach of an imputed promise |
* Ratings may be modifed by addition of a plus '+' and minus '-' sign (S&P) and 1, 2 and 3(Moody's) to show relative standing within the rating categories.