Bond Ratings

1: best quality borrowers
2: good quality borrowers, bit more risk than 1, 2A & 2B
3: good quality borrowers, subject to economic conditions, 3A & 3B
4: medium class, satisfactory at the moment
5: more prone to economic changes
5A: economic situation varies a lot
6: currently vulnerable
6A: highly vulnerable
7: past due on interest
8: under regulatory supervision
9: has selectively defaulted
10: is, or at high risk of, default