1, the long-term rating of S&P is mainly divided into two categories: investment grade and speculative grade. Investment grade has the characteristics of high reputation and high investment value, while speculative grade has a low credit degree and the default risk increases step by step. The investment grade is divided into AAA, AA, A, BBB, and the speculative grade is divided into BB, B, CCC, CC, C, D. The credit grade is arranged from high to low, and AAA has the highest credit grade; The lowest level of d is considered a violation of the terms.
2. Moody's long-term rating evaluates the issuer's debt payment ability and predicts the possibility of debt default and property loss with a term of more than one year. Short-term ratings are generally for debts with a maturity of less than one year.
3. Fitch is slightly smaller than the other two and is the only rating agency controlled by Europe.