Rating Actions
Fixed-income terms for downgrades, fallen angels, unrated securities, rated status, and weighted-average credit ratings.
AAA, BBB, Baa1, Ba1, investment-grade, speculative-grade, not-rated, downgrade, fallen angel, and weighted-average rating terms.
Rating grades and rating status terms describe where a bond or issuer sits on a credit rating scale and whether its status has changed.
Use this branch when a bond’s eligibility, price, spread, index membership, mandate fit, or liquidity depends on investment-grade status, speculative-grade status, downgrade risk, not-rated status, or weighted-average portfolio rating.
| Area | Use it for |
|---|---|
| Rating Grades and Investment-Grade Status | AAA, BBB, Baa1, Ba1, investment-grade, and speculative-grade rating labels. |
| Rating Actions and Unrated Status | Downgrades, fallen angels, rated status, not-rated securities, and weighted-average credit ratings. |
Crossing a rating threshold can change the investor base, borrowing cost, index treatment, regulatory treatment, and portfolio mandate eligibility. The market may react before or after a formal rating action if investors expect the change.
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Fixed-income terms for downgrades, fallen angels, unrated securities, rated status, and weighted-average credit ratings.
Fixed-income terms for AAA, BBB, Ba1, Baa1, investment-grade, and speculative-grade credit ratings.