The issuer or issue displays the highest capacity for the payment of its short-term debt obligations and maintains the lowest risk.
The issuer or issue displays a high capacity for the payment of its short-term obligations.
The issuer or issue displays an adequate capacity for the payment of short-term obligations.
The issuer or issue displays, under certain circumstances, an adequate capacity for the payment of short-term obligations. However, adverse economic conditions may impair its ability.
The issuer or issue displays a modest capacity for the timely payment of short-term debt obligations, and maintains an increased risk compared with higher credit rating instruments.
The issuer or issue displays an insufficient capacity for the timely payment of short-term debt obligations and maintain a very high risk. These instruments are susceptible to falling into default.
The issuer or issue has defaulted on its financial obligations.
