Credit rating

More information

• What is a credit rating?

  A credit rating is an independent opinion of the capability and willingness of an entity to repay its debts (in other words, its creditworthiness). It is not a guarantee that the financial product being offered is a safe investment. Credit ratings are statements of opinion issued by a ratings agency. They are not statements of fact, an endorsement of the rated entity, or a recommendation to buy, hold, or sell securities.

  A credit rating should be considered alongside all other relevant information when making an investment decision.

  For further information visit the S&P website at www.standardandpoors.com.

• Outlook assessment

  S&P may also include an “outlook assessment” with their rating, which considers the potential direction of a long-term credit rating over the intermediate term (typically six months to two years). This assessment is not necessarily a precursor of a rating change. The common rating outlook definitions are:

  • Positive – a rating may be raised

  • Negative – a rating may be lowered

  • Stable – a rating is not likely to change

  • Developing – a rating may be raised or lowered.