| AAA |
Principle amount payment ability is the best |
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| AA |
Principle amount payment ability is very outstanding but inferior to AAA to some extent |
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| A |
Principle amount payment ability is outstanding but a potential drop of efficiency exists in future principle amount |
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| BBB |
Principle amount payment ability is satisfactory but a potential drop of efficiency exists in future principle amount payment ability depending on economic circumstances and aggravation of surrounding situations |
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| BB |
No current problem exists regarding principle amount payment, but potential speculative factors exist regarding future stability of repayment ability |
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| B |
Speculative outlook due to lack of principle amount payment ability and interest payment is uncertain in case of economic slump |
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| CCC |
Insecure state regarding currently insecure principle amount payment and very speculative outlook due to possibility of unfulfillment of obligatory debt repayment |
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| CC |
More insecure compared to superior grades |
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| C |
High possibility of unfulfillment of obligatory debt repayment and no ability of principle amount payment |
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| D |
Under situation of unfulfillment of obligatory debt repayment and bankruptcy |
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