Insurance Company Rating Definitions and Categories

Ratings and Categories

Insurance Company Rating Categories
Rank Number	A.M. Best	Standard & Poor's	Moody's	Fitch
	Financial Strength	Financial Strength	Financial Strength	Financial Strength
1	A++ Secure / Superior	AAA Extremely Strong	Aaa Exceptional	AAA Secure / Highest
2	A+ Secure / Superior	AA+ Very Strong	Aa1 Excellent	AA+ Secure / Very High
3	A Secure / Excellent	AA Very Strong	Aa2 Excellent	AA Secure / Very High
4	A- Secure / Excellent	AA- Very Strong	Aa3 Excellent	AA- Secure / Very High
5	B++ Secure / Very Good	A+ Strong	A1 Good	A+ Secure / High
6	B+ Secure / Good	A Strong	A2 Good	A Secure / High
7	B Vulnerable / Fair	A- Strong	A3 Good	A- Secure / High
8	B- Vulnerable / Fair	BBB+ Good	Baa1 Adequate	BBB+ Secure / Adequate
9	C++ Vulnerable / Marginal	BBB Good	Baa2 Adequate	BBB Secure / Adequate
10	C+ Vulnerable / Marginal	BBB- Good	Baa3 Adequate	BBB- Secure / Adequate
11	C Vulnerable / Weak	BB+ Marginal	Ba1 Questionable	BB+ Uncertain
12	C- Vulnerable / Weak	BB Marginal	Ba2 Questionable	BB Uncertain
13	D Vulnerable / Poor	BB- Marginal	Ba3 Questionable	BB- Uncertain
14	E Vulnerable / Under State Supervision	B+ Weak	B1 Poor	B+ Possessing Risk
15	F Vulnerable / In Liquidation	B Weak	B2 Poor	B Possessing Risk
16	S Rating Suspended	B- Weak	B3 Poor	B- Possessing Risk
17		CCC+ Very Weak	Caa Very Poor	CCC Substantial Risk
18		CCC Very Weak	Ca Extremely Poor	DD Liquidating
19		CCC- Very Weak	C Lowest	SR Suspended Rating
20		CC Extremely Weak
21		R Regulatory Action
Based on public information only