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Rating Agencies and Services

Bond rating, rating agency, Fitch, Moody's, Standard & Poor's, and rating-service terms.

Rating agencies and services provide external credit opinions about issuers, securities, and repayment risk.

Use this branch when a portfolio, bond screen, mandate, index, credit memo, or disclosure depends on an agency rating label or rating-service source.

Key Terms in This Branch

TermWhat it clarifies
Bond RatingA credit opinion assigned to a bond or issuer.
Bond-Rating AgencyAn organization that assigns and monitors bond ratings.
Fitch RatingsA major credit rating agency.
Moody’sA major credit rating agency.
Standard & Poor’sA major credit rating agency reference.
Standard & Poor’s RatingA rating label or opinion attributed to Standard & Poor’s.

What to Verify

Check the rated entity, exact security, rating agency, rating scale, rating date, outlook or watch status, methodology, and whether the rating is issuer-level or issue-specific. A rating can change, and different agencies can assign different opinions.

Common Mistakes

  • Treating ratings as investment recommendations.
  • Assuming issuer ratings and individual bond ratings are identical.
  • Ignoring outlooks, watchlists, and later rating actions.
  • Comparing rating scales without checking the agency and instrument type.

In this section

Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.

Bond Rating

A bond rating is a credit opinion on an issuer's ability to pay interest and principal, used in pricing, eligibility, and risk limits.

Bond-Rating Agency

A bond-rating agency assesses debt issuer credit quality and assigns ratings used in bond pricing, mandates, and risk limits.

Fitch Ratings

Fitch Ratings is a major credit-rating agency whose ratings help investors assess issuer default risk, bond credit quality, and market pricing.

Moody's

Moody's is a major credit-rating agency whose issuer and security ratings influence bond pricing, disclosure, and risk management.

Standard & Poor's

Standard & Poor's is a financial data, index, and credit-rating firm whose ratings and benchmarks influence bond and equity markets.

Standard & Poor's Rating

A Standard & Poor's rating is an S&P opinion on credit risk, using letter grades to signal default risk and payment capacity.

Revised on Sunday, June 21, 2026