Credit Rating

Rating Agency 2026 2025 2024 2023 2022 2021
Moody's Baa1
(Stable)		 Baa1
(Stable)		 Baa2
(Stable)		 Baa2
(Negative)		 Baa2
(Stable)		 Baa2
(Negative)
S&P BBB+
(Positive)		 BBB
(Positive)		 BBB
(Stable)		 BBB-
(Stable)		 BBB-
(Stable)		 BBB-
(Positive)
Fitch BBB
(Positive)		 BBB
(Positive)		 BBB
(Stable)		 BBB
(Stable)		 - -

Credit Rating Definition

MOODY'S S&P Fitch Definition
Aaa AAA AAA Maximum Safety
Aa1, Aa2, Aa3 AA+, AA, AA- AA+, AA, AA- Good
Baa1, Baa2, Baa3 BBB+, BBB, BBB- BBB+, BBB, BBB- Adequate
Ba1, Ba2, Ba3 BB+, BB, BB- BB+, BB, BB- Questionable
B1, B2, B3 B+, B, B- B+, B, B- Poor
Less than Caa1 Less than CCC+ Less than CCC+ Very poor