Examples of Ba3 in a sentence
The minimum credit quality rating stipulated by the management company is BB- (Standard & Poor’s or Fitch) or Ba3 (Moody’s).
RatingsBestS&PMoody’sFitchSecure – 1A++AAAAaaAAASecure – 2A+AA+, AA, AA-Aa1, Aa2, Aa3AA+, AA, AA-Secure – 3AA+, AA1, A2A+, ASecure – 4A-A-A3A-Secure – 5B++, B+BBB+, BBB, BBB-Baa1, Baa2, Baa3BBB+, BBB, BBB-Vulnerable – 6B, B-, C++, C+,C, C-, D, E, FBB+, BB, BB-, B+,B, B-, CCC, CC, C, D, RBa1, Ba2, Ba3, B1, B2, B3, Caa, Ca, CBB+, BB, BB-, B+,B, B-, CCC+, CC, CCC-, DD 2.
Bonds and money market instruments issued by the above private and public issuers must exhibit a rating of at least Ba3 (Moody’s) or BB- (Standard & Poor’s).
This effectively moves an A1 rated credit to a Baa3 credit or a Baa3 to a Ba3 on the Moody’s scale.
If a security is not rated by Fitch but is rated by only one other Rating Agency, then the rating on the security from the other Rating Agency will be used to determine the Fitch Discount Factor (e.g., where the only rating on a security is an S&P rating of AAA, a Fitch rating of AAA will be used, and where the only rating on a security is a Moody's rating of Ba3, a Fitch rating of BB- will be used).