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Bond Rating (10/31/2008)
Rating Breakdown
| AAA |
0.00% |
| A |
13.15% |
| BBB |
0% |
| BB |
9.31% |
| B |
37.88% |
| CCC |
28.17% |
| CC |
1.63% |
| C |
0% |
| D |
3.59% |
| Non-Rated |
6.27% |
Description of S&P Corporate Bond Ratings
| AAA |
Debt rated AAA has the highest rating assigned by Standard & Poor's to a debt obligation. Capacity to pay interest and repay principal is extremely strong. |
| AA |
Debt rated AA has a very strong capacity to pay interest and repay principal and differs from the higher rated issues only in small degree. |
| A |
Debt rated A has a strong capacity to pay interest and repay principal, although it is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions. |
| BBB |
Debt rated BBB is regarded as having an adequate capacity to pay interest and repay principal. Whereas it normally exhibits adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for debt in this category than in higher rated categories. |
| BB, B, CCC, CC, C |
Debt rated BB, B, CCC, CC and C is regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. BB indicates the lowest degree of speculation and C the highest degree of speculation. While such debt will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions. |
| D |
Debt rated D is in default, and payment of interest and/or repayment of principal is in arrears. |
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